New SahiBnk branch unveiled in Assam for agri and dairy farmers

Manipal Business Solutions (MBS), a fintech company, unveils SahiBnk branches in Assam, under an initiative led by APART (Assam Agribusiness and Rural Transformation Project).

With these stores, MBS aims to digitize the WAMUL (West Assam Milk Producers’ Co-operative Union Limited) affiliated Dairy Cooperative Societies and offers an array of banking and financial services in partnership with leading banks and NBFCs.

The branches were inaugurated at Surabhi Malibari PDCS, Chamaria Block, Jogipara Village, Nagarbera Anchalik PDCS, Kalyanpur Village, and Bamunbari Cooperative Society PDCS of Chamaria Block in Kamrup .

The inauguration ceremony was attended by key dignitaries including S K Parida, General Manager, WAMUL officials from WAMUL and Manipal Business Solutions.

It stated that under the Assam Challenge fund – “Xamahar” Initiative, Manipal Business Solutions partnered with the Assam Rural Infrastructure and Agricultural Services (ARIAS) Society in September 2022 to deepen financial inclusion and extend banking services among the farmers, Dairy cooperatives in the Dairy Value Chain of Assam.

MBS has been working closely with the leading financial intuitions to offer tailor-made products such as cattle loans, livestock insurance, personal loans, savings and investment services, payments, etc. for dairy farmers.

It further stated that the rural dairy farmers in Assam currently don’t have proper access to banking and financial services. To address this challenge and bridge the urban-rural divide, SahiBnk branches have been launched. Through this initiative, MBS will not only enable the digitalization of the dairy value chain but will also financially empower dairy farmers by helping them double their income. MBS has already inaugurated 50+ SahiBnk outlets across India and aims to open many more in Assam to make banking accessible for more than 1 lakh dairy farmers.

The State Project Director of ARIAS Society, Akash Deep has stated, “Project Xamahar will support and accelerate the growth of the Dairy Cooperative Societies, Milk Unions, and Farmers in the Dairy Value Chain of Assam. This APART led initiative will enable Manipal Business Solutions to create cutting-edge financial inclusion opportunities for the last mile operators and benefit the farmers in the far-flung districts of Assam with their value-added micro banking facilities provided under the project.”

Kamaljeet Rastogi, CEO, Manipal Business Solutions said, “We are excited to launch SahiBnk stores in the Kamrup district of Assam. With these branches, we aim to accelerate the fintech revolution by digitalizing the dairy value chain and offering banking services to the last mile. We are working closely with the leading financial intuitions to offer tailor-made products to dairy farmers. Our constant endeavor is to make India a financially inclusive nation and we have embarked on this journey by making banking accessible for everyone everywhere through SahiBnk stores.”