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

Banking & Finance | Dated: 29 Dec 2024

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.

🎯 Key Highlights:

  • - 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.

💡 Other Important Facts:

  • (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).

📚 Test Your Knowledge:

Which bank has recently signed an MoU with FCAOI to improve agricultural infrastructure?

Correct Answer: Punjab National Bank (PNB)

🚀 Quick Recap: