Kwality signs MoU with Central Bank to finance dairy farmers.

Dairy firm Kwality Ltd. has signed an agreement with Central Bank of India for extending financial assistance to dairy farmers.

City-based Kwality Ltd. has six plants in Haryana, Uttar Pradesh and Rajasthan with processing capacity of 30 lakh litres a day. Its consolidated net sales rose by 27 per cent at Rs. 5,002 crore last fiscal, while profit was up 37 per cent at Rs. 144.93 crore.

'Kwality has signed a Memorandum of Understanding (MoU) with Central Bank of India for financing of dairy animals to the Milk Producer Farmers (MPF) and to provide financial assistance for expansion/establishment of their dairy farms,' the company said in a statement.

As per the MoU, Kwality will identify the farmers who supply milk to them and are in requirement of financial assistance. The company will then recommend their names to the bank, which would extend its credit facility to the Milk Producer Farmers (MPF) after checking the farmers credentials.

BS