This partnership will enable Samunnati to scale its outreach to FPOs with customised financial solutions at affordable interest rates, leveraging the vast resources available with SBI
Samunnati, India’s Open Agri Network has entered into the largest co-lending partnership in India aimed at the Farmer Producer Organisation (FPO) space with SBI, India’s largest bank. The initial programme amount is Rs 100 Crores.
This partnership will enable Samunnati to scale its outreach to FPOs with customised financial solutions at affordable interest rates, leveraging the vast resources available with SBI. The partnership will enhance the outreach for SBI channel credit to the under-served segment of small-holder farmers in the agriculture sector, by leveraging Samunnati’s outreach and nuanced understanding of the FPO sector.
SBI and Samunnati has also entered into a non-financial MOU to develop the FPO Sector, to mainstream FPO as an asset class and increase awareness of this class of farmer-owned institutions in the Banking sector.
Samunnati works with a growing network of 3000+ Farmer Collectives with a member base of over 6 million farmers with solutions spanning Agri Finance, Agri Commerce, and advisory services. Speaking to the Founder & CEO of Samunnati, Anil Kumar SG said, “SBI’s pan-India presence and deep interest in Financial Inclusion of the small-holder farmers are enablers for helping an FPO avail an array of financial services. Our collective ambition is to make markets work for smallholder farmers by making available adequate, affordable and timely credit to the FPOs.”
