BoB, IFFCO come together, launch co-branded debit card

Bank of Baroda (BoB) and IFFCO have joined hands to promote digital drive of the government by way of providing co-branded debit card with in-built overdraft facilities to farmers.
BoB is promoting cashless transactions and as such, intends to have arrangement with IFFCO for issuance of co-branded cards to the farmers, a joint statement said.
It also intends to install PoS machines at IFFCO FSCs, eBazaar stores and the societies which are keen to come on board for cashless transactions, it said.
Two lakhs co-branded debit cards will be issued to the farmers, starting with Uttar Pradesh, Bihar, Rajasthan and Madhya Pradesh.

Subsequently, more cards will be issued across the rest of India, it said, adding that these co-branded debit cards will be exclusively used for the purchase of IFFCO products only.
IFFCO is into manufacturing and distribution of fertilisers and supply of seeds and other agri-input products that are channelised through approximately 35,500 member cooperative societies, 168 Farmers Service Centres (FSCs), IFFCO eBazaar stores and other institutional agencies.