IFFCO and Bank of Baroda launches co-branded debit card for farmers
IFFCO, the world’s largest fertiliser cooperative, in collaboration with Bank of Baroda launched its co-branded debit card for farmers at a card distribution ceremony organized at their corporate office in New Delhi. IFFCO and Bank of Baroda had signed an MoU in February, 2017 to create co-branded debit cards for farmers.
The newly launched cards were distributed to 51 farmers in a card distribution ceremony today & further to 2 lakh farmers.
This is aimed at enabling them to buy agri-inputs through a convenient cashless transaction mechanism, thus providing further thrust to PM Narendra Modi’s Digital India programme. The IFFCO-BOB co-branded debit cards were distributed to 51 farmers from Meerut district by Mr. R.P Singh, Director (HR &Legal), IFFCO and Mr. P.S. Jayakumar, Managing Director, Bank of Baroda at the ceremony.
Speaking on the occasion Mr. R.P Singh urged the farmers to sign up for this card to avail the benefit of 30 days interest free purchases and also to adopt cashless transactions in an increasingly digitised world. He said that farmers can conveniently buy high quality bio-fertilsers, water soluble fertilisers, agrochemicals, micro-nutrients, seeds and other agri-inputs through this card at the right cost.
Mr. P.S. Jayakumar, Managing Director, Bank of Baroda also addressed the gathering and assured the farmers of extending every possible assistance in helping them to understand the various cashless payment mechanisms.
