PNB and FCAOI have signed an MoU to improve agricultural infrastructure.

Banking & Finance

Punjab National Bank (PNB), a public sector lender based in New Delhi (Delhi), and the Federation of Cold Storage Associations of India (FCAOI) have signed a Memorandum of Understanding (MoU) to improve agricultural infrastructure and develop the cold chain system across India.


      - The MoU was signed in New Delhi in the presence of Atul Kumar Goel, Managing Director (MD) & Chief Executive Officer (CEO) of PNB; Kalyan Kumar, Executive Director (ED) of PNB; senior officials from PNB; and Mukesh Aggarwal, President of FCAOI.

     

     

Main Point :-   (i) This agreement is a major step in promoting innovation, upgrading agricultural infrastructure, and ensuring that farmers and agribusinesses have access to better storage and cold chain solutions.

      (ii) The development of modern storage facilities will transform Indian agriculture by improving cold storage, reducing post-harvest losses, and helping farmers get better prices for their produce. This will also contribute to the economic growth of rural areas.

(iii) FCAOI, founded in 1999, is a Non-Profit Organisation (NPO) that offers cold storage consulting services and operates cold storage rooms. Its headquarters is located in Agra, Uttar Pradesh (UP).

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