YES Bank has partnered with Zameen Organic a farmer owned private limited organisation aimed at closer collaboration between farmers and companies to reinforce inclusive and sustainable growth while building a transparent supply chain.
This alliance intends to create equal opportunities for producers and workers who have been economically marginalised because of the conventional trading system.
The business model empowers farmers to have effective and end-to-end control on the Fair Trade Organic Cotton supply chain which has resulted in improved economic condition of around 6500 cotton farmers from the Adilabad (Andhra Pradesh) and Vidharbha (Maharashtra) region.
Somak Ghosh, Group President, Corporate Finance and Development Banking, YES BANK stated, "As a mainstream Bank it is important that we ensure continuous flow of credit to such initiatives that are helping farmers get a fair price for their products, thereby increasing profit margins."
Gijs Spoor, CEO, Zameen Organic elaborating on the model said, "By mobilising and empowering farmers through an organisation owned by them, Zameen enables farmers to improve their livelihoods, communities, health and environment. YES BANK has helped Zameen boost its operations manifolds by facilitating timely availability of funds."
Under this partnership, YES BANK is supporting the Fair Trade movement and production of environment friendly organic cotton, resulting in livelihood generation, soil improvement and economic independence of the farmers. This endorses the triple bottom line principles of People, Planet and Profit, which is inherent to YES BANKs business ethos and philosophy.
YES BANK is the sole financer of Kurmanchal Organic Ventures Private Limited which produces organic apple juice in collaboration with apple farmers in Kumaon region of Uttarakhand.
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