Mumbai: State Bank of India, the largest bank in India with 12 million agri customers, has signed an MoU with RML Information Services Pvt Ltd, provider of Reuters Market Light – a mobile-based personalized information and engagement service for agri community, in Mumbai. This service would be available to SBI customers at a nominal subscription fees wherein RML will provide it’s highly personalized agri-information on weather, input prices, crop diseases, government schemes/ initiatives, market prices of produce, etc. through SMS and dedicated contact centres backed by a team of full-time local experts. This service would be particularly very useful in this year considering the erratic monsoon and fluctuation in prices of agricultural commodities.

The service is available on all operators and handsets in nine languages covering major states of India. The positive impact of RML’s service on the farming community and in making agri-value chain efficient has been recognized by many global and national forums.

The Memorandum of Understanding was signed by Mrs. Manju Agarwal (Chief General Manager, State Bank of India) and Mr. Amit Mehra (Founder & CEO, RML Information Systems Pvt Ltd) in Mumbai on 15.07.2014. Dr. V. Eswaran (General Manager, Agri Business, State Bank of India) and Mr.Prem Prakash Saboo (CFO, RML Information Systems Pvt Ltd) were also present on the occasion.

Considering the usefulness of this service, RML and SBI desire that the benefit of this service should reach all agri customers of the Bank. As per the new understanding, the service would be made even more affordable to SBI’s agri customers.

Source: Lokesh Shastri