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Stellapps, a dairy-tech start-up, has joined hands with Airtel Payments Bank to enable cashless payment transfers to small dairy farmers.
Stellapps has been closely working with dairies and their milk collection centres to enable direct payments to the bank account of the dairy farmers. However, a significant challenge for farmers has been the long travel to reach the nearest ATM or bank branch for withdrawing the payments.
Airtel Payments Bank will now onboard the new partner milk collection centres of Stellapps as banking points, a statement said. With milk collection centres operating as a banking point, farmers and other residents in the neighbourhood will no longer have to travel long distances.
Through these banking points, they will be able to open a bank account, withdraw and deposit cash, earn interest on savings, access Aadhaar-enabled payments, get government pension schemes, and make bill payments.
Onboarding of the centres as banking points will happen in a phased manner. Through this collaboration, both entities aim to provide easy access to formal banking services to over one million small dairy farmers from around the country, the release said.
The partner ecosystem has been piloted in Uttar Pradesh (Varanasi & Kanpur) and Madhya Pradesh (Gwalior). Over 120 milk collection centres are now also operating as banking points, the release said.
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