HDFC Bank signs MoU with LEAF to support farmers
To provide financial access and inclusion to over 4 Lakh farmers
Mumbai, December 13, 2022: HDFC Bank today announced the signing of a memorandum of understanding with Lawrencedale Agro Processing India (LEAF), an integrated full-stack ag-tech solutions provider, to support and engage more deeply with the farming community. The Bank will extend its specialised services and facilities to farmers, agri-producers, agri-preneurs and other rural communities.
With the MoU, HDFC Bank will work together with LEAF Farmers Network (LFN) in the operational areas under LEAF; primarily Andhra Pradesh, Karnataka, and Tamil Nadu. This agreement is signed to expand the financial accessibility and inclusivity of farmers and the scope of the Farmer Producer Organization (FPO) ecosystem. Over 4 Lakh farmers across the three states are expected to benefit from this association.
The MoU was signed by Mr. Anil Bhavnani, Sr Executive Vice President, and Head Rural Banking, RBB, HDFC Bank and, Mr. Palat Vijayaraghavan, Founder & CEO, Lawrencedale Agro Processing India (LEAF), in the presence of Ms. Vandita Shively, Go-To-Market Strategy, Lead, HDFC Bank.
LEAF has also partnered with Mastercard to launch LFN (LEAF Farmers Network). This partnership will transform the lives of Indian farmers by leveraging technology aided by human intervention to solve multiple challenges of transparency in India’s rural ecosystem. HDFC bank will also leverage on this relationship by getting into an agreement with LEAF.
“Our partnership with LEAF will create great outcomes; it will improve and provide financial access and inclusion to the entire rural ecosystem, drive impact and create shared success”, said Mr. Anil Bhavnani, Sr Executive Vice President, and Head Rural Banking, RBB, HDFC Bank.
“Our mission at LEAF is to bring about positive impact to millions of marginalized, small land-hold farmers in India. Majority of our LEAF Farmers Network (LFN) are pre-dominantly located in the interior rural belts where there is abundance of fertile farming lands. HDFC Bank is one of the largest banking institutions in the country and their growing presence in the rural and semi urban belts makes them the perfect player to partner with. We are thrilled to partner with HDFC Bank in our joint effort of promoting the upliftment of the rural economy”, said Mr. Palat Vijayaraghavan, Founder & CEO, Lawrencedale Agro Processing India (LEAF).
About Lawrencedale Agro Processing
Lawrencedale Agro Processing (LEAF) mission is to bring about positive impact to millions of marginalized, small land-hold farmers in India. Deploying an integrated full-stack technology solution, LEAF embraces on-ground community farming interventions which are designed for sustainable agriculture, reduce carbon-footprint, reach fair and affordable credit, scientific advisories, quality farm inputs, and forward market linkages ensuring sustainable livelihood for marginal farmers. With technology at the helm, its ISO:22000 certified integrated system reduces supply chain wastage and uses margin gain for the benefit of farmers and consumers.
About HDFC BANK
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For media queries please contact:
Ravindran Subramanian
Vice President, Corporate Communications
HDFC Bank Limited
Mobile: +91 9223306610
Email: ravindran.subramanian@hdfcbank.com
Madhu Chhibber
Head, Corporate Communications
HDFC Bank Ltd., Mumbai.
Mobile: 9833775515
Raghuvir Badrinath
Lawrencedale Agro Processing India
Ooty, The Nilgiris
Phone: +91-984-594-6455