Assam: Across an effort to solve the issues and disparities between Assam's urban and rural dairy farmers, Manipal Business Solutions (MBS), a fintech startup, has unveiled SahiBnk outlets in Assam. This project is being driven by APART (Assam Agribusiness and Rural Transformation Project).

With these stores, MBS hopes to digitise the dairy cooperative societies connected with WAMUL (West Assam Milk Producers' Co-operative Union Limited) and provides a variety of banking and financial services in collaboration with top banks and NBFCs.

The opening ceremonies for the branches took place on January 11 at the Surabhi Malibari PDCS, Chamaria Block, Jogipara Village, Nagarbera Anchalik PDCS, Kalyanpur Village, and Bamunbari Cooperative Society PDCS of Chamaria Block in Kamrup. Officials from WAMUL and Manipal Business Solutions, including Sri. S. K. Parida, General Manager, attended the inaugural event.

In September 2022, Manipal Business Solutions joined with the Assam Rural Infrastructure and Agricultural Services (ARIAS) Society as part of the Assam Challenge Fund - "Xamahar" Initiative to increase financial inclusion and expand access to banking services to farmers and dairy cooperatives in Assam's dairy value chain.

Assam's rural dairy farmers lack adequate access to banking and financial services; SahiBnk branches have been established to solve this issue and close the urban-rural gap. In addition to enabling the digitization of the dairy value chain through this programme, MBS will also give dairy farmers financial empowerment by assisting them in doubling their revenue.

For the benefit of the more than 1 lakh dairy farmers in Assam, MBS has already opened over 50 SahiBnk locations around India and plans to build many more there. MBS has been collaborating closely with the top financial institutions to provide dairy farmers with products that are specifically designed for them, such as loans for cattle, insurance for animals, personal loans, savings and investment services, payments, etc.

According to Akash Deep, IAS, the State Project Director of the ARIAS Society, "The development of the Assamese dairy value chain's farmers, milk unions, and cooperative societies would be aided and accelerated by Project Xamahar. With the help of this APART-led project, Manipal Business Solutions will be able to provide cutting-edge financial inclusion chances for the last mile operators and help the farmers in the remote areas of Assam by offering value-added microbanking facilities.

Speaking on the event, Kamaljeet Rastogi, CEO of Manipal Business Solutions, said, "By digitising the dairy value chain and providing financial services to the last mile, we intend to accelerate the fintech revolution with these branches. To give dairy farmers products that are specifically suited to their needs, we are collaborating closely with the top financial institutions. 

Members of the Dairy Cooperative Society, Gram Panchayat Presidents, and other villagers also took part in the SahiBnk launch event.

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