Joint initiative to digitize supply chain of entire Egg Production in Maharashtra; extending last mile banking services to 35,00,000+ Self-Help Group members in the state
Mumbai, January 23, 2019: YES BANK, India’s fourth largest private sector bank launched a first-of-its-kind joint initiative with the Government of Maharashtra under the ‘Yellow Revolution Programme’. The initiative is aimed to increase eggs production, provide pricing support & end-to-end supply chain solution to Self Help Groups (SHGs) engaged in the poultry business. The end objective of the programme is to meet the huge unmet demand for eggs in the state, especially in rural pockets of Maharashtra. A study done by the Government of Maharashtra claims that the state faces 1.5 crore eggs supply deficit on a daily basis.
As an industry first initiative, YES BANK has implemented an end-to-end supply chain automation solution linked to digital payments for the Maharashtra State Rural Livelihood Mission (MSRLM). The unique solution is designed to automate the entire supply chain management from procurement to distribution to facilitating instant digital payments for various stakeholders involved. The joint initiative will help in increasing the production and supply of eggs across Maharashtra state, whilst augmenting income generation capacity of stakeholders and providing a transparent low-cost process for procurement of quality product. The solution is expected to benefit 3,50,000 Self Help Groups (SHG with total 35,00,000 members) and aggregators like ~9000 Village level organizations, ~300 Taluka level organisations, ~34 District level organizations and ultimately end institutional and non-institutional buyers like ICDS, Mid-day meal programme, private entities etc.
Commenting on the development, Shri. Aseem Gupta Principal Secretary -Rural Development Department said, “Yellow revolution is designed to empower Self Help groups by providing them an over the counter facility at the village level, for sale of eggs produced by their members; by using technology to link them to attractive markets. I thank YES BANK for work done by them to support the Rural Development Department in key projects such as Yellow Revolution and Asmita.”
During the launch of the initiative, Smt. R Vimala, IAS & CEO- Maharashtra State Rural Livelihood Mission (MSRLM) said, “Yellow Revolution will significantly augment the livelihood of the Self Help Groups and egg suppliers across villages in Maharashtra by boosting their income through this innovative digital solution. The solution also provides an efficient and transparent mechanism for consistent supply of high-quality eggs at competitive rates. YES BANK has been an instrumental partner in implementing this important end-to-end mobile-based digital solution to operationalize the supply chain. Together with YES BANK, we will expand this initiative across the 40,000 villages in Maharashtra in a time span of two years. New Indictrans (Tech Solution Provider) has been instrumental in making the software for this programme.”
Commenting on the partnership, Mr. Ritesh Pai, Chief Digital Officer at YES BANK said, “YES BANK is proud to partner the Government of Maharashtra, helping them address a genuine pain point in the hitherto unorganized supply chain of production and distribution of eggs in the state, through digitization. This pioneering initiative of Government of Maharashtra will pave the way for better livelihood generation, while ensuring that wastage of supply is minimized to a great extent. We believe that the true power of digitization lies in making a difference to the lowest common denominator in the society and we remain committed to the twin national agenda of Financial Inclusion and Digital India.”
Under the programme, the SHGs that supplies eggs will be provided with a mobile app developed by YES BANK. Once the SHG delivers at the Village level, quality checks are done post which SHG gets money instantly. YES BANK has developed the mobile application for Buyer, seller (SHGs), Village level organization, Taluka level organization, District level organization, and Logistic Partner, where eggs can be bought and sold in a seamless manner. Mobile application will help each entity to feed the order and route to linked aggregator to further send to actual seller. The entire purchase to sales process can be tracked along will payment initiation on the application itself making it transparent.
About YES BANK
YES BANK, is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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