IOB is targeting to onboard 1 lakh organic farmers in TN, where organic farming is already gaining ground, and then scale it nationally.
In a boost to organic farming, public sector lender Indian Overseas Bank (IOB), dairy cooperative Amul, and biofertiliser company Richplus are joining hands to empower one lakh organic farmers with credit and other support .
IOB on Thursday entered into a tripartite MoU with Amul’s organic fertilizer business and Richplus with plans to promote organic farming and to empower organic farmers with credit and other support. As part of this MoU, IOB is targeting to onboard 1 lakh organic farmers in TN, where organic farming is already gaining ground, and then scale it nationally.
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A key feature of the initiative is the launch of a co-branded Organic Farming Card for IOB account holders. This card offers farmers access to discounted organic inputs through Amul’s certified outlets and other support. Other benefits include free agronomist support, training opportunities, and high-quality seeds. The MoU also facilitates NPOP certification for farmers and guarantees buy-back arrangements to ensure fair pricing and market stability. IOB will also introduce a dedicated credit scheme “Harit Kranti “, tailored to the needs of organic farmers.
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