Good News for Dairy Farmers: Amul Launches Micro ATM Services in Rajkot

Good News for dairy farmers: In order to extend banking facilities to the member milk producers, Amul has launched its "micro ATM services" from Anandpar village in Rajkot on 9 June 2021.

The new service was launched with the Secretary, Anandpar village cooperative milk producers society connected with Gopal Dairy (Rajkot District Cooperative Milk Producers Union Limited) facilitating cash withdrawal via Electronic Data Capture (EDC) machine with finger scanner option.

Chairman of Gujarat Cooperative Milk Marketing Federation (GCMMF), Shamal Patel; Vice Chairman, Valamji Humabal, Managing Director of GCMMF, R S Sodhi and Chairman of Gopal Dairy, Gordhan Dhameliya took part in the event through video-conferencing.

The service known as Amul Micro ATM system has been developed by the GCMMF, fin tech company Digivridhi with banking partner Federal Bank. According to the arrangement, Federal Bank will deliver cash to Anandpar village cooperative society on every 9th, 19th and 29th of the month. Secretary of the village cooperative would work as the banking correspondent and Digivridhi will act as bridge between the bank & village cooperative society.

An official release from Amul quoted Shamal Patel as saying that “By adopting the Micro ATM technology, milk producer members are linked with digital payment system… Member unions of GCMMF will roll out Amul Micro ATM project in all village cooperative societies at the earliest. We are working for this project since some time and it is a matter of pride for us to fulfil “Digital India” vision of our Hon’ble Prime Minister”.

RS Sodhi said lack of access to digital banking technology in remote villages had made Amul to take the banking services to its village cooperative societies. He said, “There are 3 main advantage of the project – increase in transparency in all financial transactions & credit worthiness of individual that would be helpful to them for availing any kind of loan. It will further cultivate habit of saving”.

Managing Director of Gopal Dairy, Vinod Vyas told media that “Rajkot dairy union has about 892 village level milk cooperative societies and due to lack of access to banking services, around 20% of these societies have no option but to give their member milk producers hard cash for pouring milk in the dairy. With the micro ATM service, these farmers will now have the option of getting their dues credited to their bank accounts and withdraw as much cash anytime they want”.  

He added, “Initially, we are launching this service in 14 villages on pilot basis and if the services remain a success, Amul may extend it to other villages.”

It must be noted that Amul also provides business opportunity wherein you can earn lakhs every month.