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Sunday / December 8. 2024
HomePosts Tagged "Punjab & Sind Bank (PSB)"

Technologies such as sensor-based irrigation, automated weather stations, drone applications, and machine learning-based decision support systems will be showcased on the new demo farm.

Punjab Agricultural University (PAU), Ludhiana, has secured a grant of Rs 1.25 crore from Punjab & Sind Bank (PSB) under its Corporate Social Responsibility (CSR) initiative. The Memorandum of Understanding (MoU) for the development of a ‘Digital Technology Park’ was signed in the presence of Dr Satbir Singh Gosal, PAU Vice-Chancellor, and Swarup Kumar Saha, MD and CEO of PSB. The initiative under the project titled “Futuristic Farming: Demonstrating Cutting-Edge Agri-Techniques for Resource Conservation,” is a major step forward in advancing agricultural practices through innovation.

Discussing PAU’s evolution, Dr S.S. Gosal emphasized the university’s regional impact. About the pact, he affirmed, “This initiative marks a significant step in our mission to boost agricultural productivity and sustainability. By integrating precision farming technologies, we aim to conserve essential resources and reduce environmental impacts. Our collaboration with Punjab & Sind Bank reflects the importance of public-private partnerships in advancing agriculture.” Technologies such as sensor-based irrigation, automated weather stations, drone applications, and machine learning-based decision support systems will be showcased on the new demo farm, he added.

S.K. Saha lauded Punjab Agricultural University for shaping the nation’s agricultural landscape and inspiring farmers to embrace technology-driven innovations. He expressed enthusiasm for the partnership, noting that it mirrors Punjab & Sind Bank’s commitment to sustainable agricultural development. Saha emphasized that the bank’s investment aims to enhance both farmers’ welfare and environmental conservation. He believed the innovative techniques being implemented would set a new standard for agriculture in India and beyond. Mr. Chaman Lal Shienhmar, PSB’s Field General Manager, Chandigarh, called the initiative a way of giving back to the region’s farmers.

Dr. S.S. Chahal and Dr. N.S. Malhi commended the innovative project, mentioning that it would align agricultural education with the National Education Policy (NEP 2020). They remarked that the project’s comprehensive approach and advanced technologies would create a paradigm shift in agricultural practices. Dr. M.I.S. Gill, PAU Registrar, observed that integrating cutting-edge technologies in farming goes beyond immediate benefits. He opined that the project would serve as a model for other regions facing similar challenges, demonstrating the potential of technology to transform agriculture sustainably.

Dr Ajmer Singh Brar, the PAU scientist who prepared the proposal, spotlighted the practical benefits of these technologies. A decision support system integrating machine learning algorithms will further enhance the project’s impact. The data and recommendations regarding sensor-based automated irrigation will be accessible to farmers through a cloud-based application, empowering them to make informed choices and improve productivity.

The collaboration between PAU and PSB signifies a shared vision of a sustainable and prosperous agricultural future. The event was coordinated by Dr Vishal Bector, Associate Director (Institution Relations), PAU.

Technologies such as sensor-based irrigation, automated weather

Under the MoU, PSB is offering loans against electronic Negotiable Warehouse Receipts with no collateral and attractive rate of interest.

To facilitate farmers and traders in providing low interest rate loans, Warehousing Development Regulatory Authority (WDRA) signed Memorandum of Understanding (MoU) with a Punjab & Sind Bank (PSB). The MoU was signed with the intent of promoting awareness to fund against e-NWRs (electronic Negotiable Warehouse Receipt). The MoU is aimed to provide information to depositors of the benefits, besides doing further outreach activities to improve agricultural pledge finance in India.

PSB is offering loans against e-NWRs with no collateral and attractive rate of interest. Under agriculture sector, up to Rs. 75 lakh and for other category borrowers, up to Rs. 5 crores loans are extended.

During the event, a presentation was made by WDRA on the importance of post-harvest pledge financing using electronic Negotiable Warehouse Receipts (e-NWRs) for improving rural credit. The bank representatives also highlighted the challenges faced by the lending institutions in this sector. WDRA assured their full regulatory support in improving the fiduciary trust among stakeholders.

 MoU was exchanged by T.K. Manoj Kumar, Chairperson, WDRA, Swarup Kumar Saha, MD&CEO, PSB in the head office of PSB. This event is attended by Dr Ram Jass Yadav, ED, PSB, Sh. Ravi Mehra, ED, PSB from PSB and Naveen Barolia, Dy. Director (M&C), Sai Pradeep Gopisetty, Asst. Director (SA&O) from WDRA.

Under the MoU, PSB is offering loans