The Odisha State Cooperative Milk Producers’ Federation (OMFED) has commenced the distribution of micro-ATMs to various milk cooperative societies in Odisha, allowing dairy farmers to conveniently withdraw payments and access banking services within their villages. This initiative aims to enhance financial inclusion by directly providing banking facilities at cooperative centers where farmers regularly engage in transactions.

In its initial phase, OMFED has installed micro-ATMs in 55 milk cooperative societies, with support from the Odisha State Cooperative Bank. Among these, 35 societies are situated in the Cuttack district, while the other 20 are based in Sambalpur, as reported by media sources.

According to Vijay Amruta Kulange, the Managing Director of OMFED, the micro-ATMs will enable dairy farmers to withdraw payments for the milk they sell and perform various banking transactions directly at their cooperative societies. This facility is expected to eliminate the need for farmers to travel long distances to access banking services, thereby making financial transactions more efficient and accessible.

The federation anticipates that this initiative will not only enhance the availability of secure and transparent banking services at the grassroots level but also alleviate the logistical challenges faced by dairy producers. By merging financial services with milk cooperative societies, the rollout aims to provide additional support to farmers during the monsoon season, when traveling can be particularly challenging.

In addition to improving banking access, this initiative seeks to strengthen the cooperative dairy network in Odisha by simplifying routine financial transactions for milk producers and bolstering the overall cooperative ecosystem in the state.