Samunnati Signs Co-lending Partnership with IndusInd Bank

Featured in The Times of India

CHENNAI: Agri value chain financier Samunnati has entered into a co-lending agreement with IndusInd Bank to expand credit accessibility and market linkages for farmers producer organisations (FPOs) across the country.

This collaboration will provide Rs. 150 million as an initial amount to be disbursed exclusively to farmer collectives. The primary aim is to ensure the self-sustainability and profitability of farmer collectives and their members, comprising mostly small-holder farmers.

“This strategic alliance will enable easy access to working capital to Samunnati’s growing network of 1,500 farmer collectives with a member base of six million farmers,” the company said in a statement.

“Our collective goal with this alliance is to improve the flow of credit to the underserved agri community at an affordable cost, by leveraging the dual advantage of funds at a lower cost and Samunnati’s extensive FPO network,” AnilKumar SG, Founder and CEO, Samunnati, said.

In November 2020, the Reserve Bank of India (RBI) issued guidelines on co-lending model between scheduled commercial banks and NBFCs. IndusInd Bank is among the first scheduled commercial banks to participate in such a co-lending program aimed at mainstreaming FPOs as an asset class.

You might also like

From clerk to CEO of agri finance firm

18 December 2023

From clerk to CEO of agri finance firm

Featured in ET BFSI Anil Kumar S G was inspired by Muhammad Yunus biography to establish Samunnati, an agriculture financing enterprise in...

Press release: Symbiotics launches USD 6.75 million (INR 506,250,000) Social Bond with Samunnati Financial Intermediation & Services Private Limited in India

28 August 2020

Press release: Symbiotics launches USD 6.75 million (INR 506,250,000) Social Bond with Samunnati Financial Intermediation & Services Private Limited in India

Featured in Symbiotics Symbiotics, the leading market access platform for impact investing, has arranged a Social Bond, raising USD 6.75 million...

Bayer partners with Samunnati to enhance farmer productivity and profitability

25 October 2024

Bayer partners with Samunnati to enhance farmer productivity and profitability

Featured in agrospectrumindia.com Under the Memorandum of Understanding (MoU), Bayer and Samunnati aim to provide Indian farmers with access to quality...

Samunnati’s playbook to create a holistic agri-lending ecosystem

24 March 2021

Samunnati’s playbook to create a holistic agri-lending ecosystem

Featured in TECHCiRCLE Nearly 58% of India’s population relies on agriculture as the primary source of livelihood, as per data from...