business-india-news

UBI partners Jain Irrigation Systems

New Delhi, Jan 2 : Public sector lender, Union Bank of India (UBI) has entered into a strategic partnership with Jain Irrigation Systems Ltd for financing farmers for purchase of drip irrigation system.


Drip irrigation involves dripping water onto the soil close to plants at very low rates from a system of small diameter pipes fitted with outlets called drippers.

Drip irrigation system is effective for water conservation and increase in productivity.

The partnership will deliver hassle-free credit facilities to farmers, empowering them to fetch higher and faster return on investment.

Jain Irrigation will extend guidance to farmers on crop and irrigation managements.

The pact was signed by V. S. Dole, General Manager, Rural and Agri Business department, Union Bank of India and Anil B. Jain, Managing Director, Jain Irrigation Systems Ltd.

The new pact is in tune with the directives of the government to enhance the farm credit.

"The partnership will help the bank to reach farmers across India. The Bank will focus on farmers cultivating row crops such as fruits, vegetables, sugarcane and vines as these crops are more suitable for drip irrigation. The Bank is also planning to arrange sensitization campaigns on drip irrigation in high value crops growing areas affected by marginal water quality and undulated land," Dole said.

--IBNS (Posted on 02-01-2014)

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