HDFC Bank digitises over 1,200 dairy co-operatives

HDFC Bank today said it has digitised payments at over 1,200 dairy co-operatives in the country under its Milk to Money (M2M) programme.
The digitisation of dairy co-operatives has benefited 3.2 lakh farmers across 16 states, the private sector lender said in a statement here.
"We are proud of what we believe is the second white revolution in the country and the changes it has brought about in the lives of farmers. Bringing them under the formal financial fold has enabled them to live a better life," the bank's head (agri business), Michael Andrade, said.
M2M was launched in 2010 with an aim to bring dairy farmers into the organised banking system, digitising the entire dairy value chain, and bringing to them products meeting their banking and financial needs.

The M2M footprint now covers Gujarat, Rajasthan, Uttar Pradesh, Maharashtra, Punjab and Haryana, among other states.