Agri Business

Samunnati launches FPOs’ network scheme

Our Bureau Bengaluru | Updated on June 23, 2021

The agri value chain enable will offer ₹5 lakh pre-sanctioned loan

Samunnati, a specialised agri value chain enabler, announced the launch FPOnEXT, an exclusive network programme through which it expects to help the farmer producer organisation (FPOs) in accessing financial solutions, market linkages and technology interventions.

The idea is to help the FPOs to grow to the next level through this network programme, said Anil Kumar SG, Founder, Samunnati. The membership to FPOnEXT is by invitation and free of cost. Samunnati expects about 100 FPOs to join the programme in next six months, he said.

“With the launch of FPOnEXT, we seek to deliver a bouquet of products to FPOs in a more structured manner, aligning to the goals and mission of growth of the agricultural ecosystem,” Anil Kumar said.

Several benefits

By availing membership at zero cost, FPOs will receive several benefits such as pre-sanctioned loan of up to ₹5 lakh, complementary assessment and feedback from Samunnati through their grading and engagement tool, as well as access to crop, daily weather alerts, market prices and a dedicated call centre, Anil Kumar said.

Samunnati, which entered into seventh year of operations, also endeavors to bring in other players like Resource Institutions, Training & Capacity Building Institutions and other eco-system players who are committed to FPOs and small holder farmers.

Focus on insurance

There will also be focused effort to bring in customised insurance products to the members of FPOnEXT. In addition, Samunnati will directly as well as in collaboration with other reputed institutions extend training sessions to FPOs on aspects related to governance, statutory compliance and business management among others. “We are excited to work with stakeholders across the industry in the coming months and look forward to helping the FPO community reap the benefits of this initiative,” said Pravesh Sharma, Director, Samunnati.

Samunnati had recently launched Agri-Elevate, an ecosystem platform to connect FPOs and Agri-Enterprises.

Published on June 23, 2021

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