The Hindu Business Line : SBI in pact with Heritage Foods

Hyderabad May 11 State Bank of India, Hyderabad, has signed a memorandum of understanding with Heritage Foods (India) Ltd to disburse Rs 100 crore for various needs of the dairy sector.

According to a release, SBI would offer term loansto farmers for purchase of animals, construction of shed, purchase of milking machine, chaff cutter and development of fodder plot.

The finance would also be extended to the entire value chain of milch animals, bulk coolers, processing centres and marketing outlets.

Further, SBI also sanctioned cash credit loans to agents of Heritage Foods for onward financing to dairy farmers.

Besides acting as a facilitator to identify farmers, Heritage Foods would provide veterinary services, including artificial insemination, treatment, vaccination and post-mortem.

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