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Rukart has tied up with Which Bank for providing easy loans to customers for buying the cold storage system 'Subjee Cooler'?
A)
State Bank of India
B)
Reserve Bank of India
C)
Indian Bank
D)
Union Bank of India

Correct Answer :   State Bank of India


Agritech firm Rukart, which sells 'Subjee Cooler' to enhance shelf life of fruits and vegetables, has tied up with State Bank of India (SBI) to help potential customers in getting easy loan options to buy the product.

* Founded in May 2019, Rukart manufactures Subjee Cooler, a cold chain storage system that requires only 20 liters of water a day to function. It increases the shelf life of fruits, flowers and vegetables by 4-6 days.

* The cost of the product is Rs 50,000 each and one Subjee Cooler has a storage capacity of 100 kg.

* Rukart is mentored by the Powering Livelihoods program, jointly run by Council On Energy, Environment and Water (CEEW) and Villgro Innovations Foundation.

* Rukart said in a statement that it has partnered with India's largest bank State Bank of India (SBI) aiming to mitigate distress sales among marginal/small farmers and retailers.

* Farmers and retailers can now buy Rukart's Subjee Cooler with ease through SBI's affordable EMIs, it added.

* In the past four years, RuKart said it has deployed more than 1,000 Subjee Coolers across 10 states in the country including Assam, Meghalaya, Nagaland, Bihar, Jharkhand, Odisha, Chhattisgarh, Maharashtra, Karnataka, and Telangana.

* In the year of its inception, Rukart has done business of around Rs 63 lakh by selling 126 Subjee Coolers in Maharashtra.

* Sharayu S Kulkarni, Co-Founder, RuKart, said, the tie-up will assist farmers and retailers in adopting clean energy-based cold chain solutions..

Source : Devdiscourse

Published On : May 10, 2023
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