PNB and FCAOI Sign MoU to Enhance Agricultural Infrastructure

Current Context: The MoU between Punjab National Bank (PNB) and the Federation of Cold Storage Associations of India (FCAOI) was signed on December 19, 2024, in New Delhi.

• The primary aim of this MoU is to enhance agricultural infrastructure and cold chain development across India, thereby reducing post-harvest losses and improving market access for farmers.
• Important Highlights
• Financial Support: PNB will provide financial assistance to develop and upgrade cold storage facilities.
• Reduction of Post-Harvest Losses: Improved cold storage infrastructure will help minimize losses of perishable agricultural products.
• Enhanced Market Access: Farmers will gain better access to markets, both domestic and international, by maintaining the quality and freshness of their produce.
• Support for Farmers: The collaboration includes providing financial solutions and technical support to enhance farmers' productivity and profitability.

Question:

1 What is the primary aim of the MoU between Punjab National Bank (PNB) and the Federation of Cold Storage Associations of India (FCAOI)?

• A) To increase insurance penetration in India
• B) To improve the financial literacy of farmers
• C) To promote international trade financing
• D) To enhance agricultural infrastructure and cold chain development

Answer: D) The main goal of the MoU is to improve agricultural infrastructure and cold chain facilities to reduce post-harvest losses and improve market access for farmers.