Women Dairy Farmers Receive Carbon Credit Payment in Digital Rupee

Udaipur: In a groundbreaking initiative, women dairy farmers from Manda village in Dungarpur district received payments in digital rupees for carbon credits generated through biogas plants, under the National Dairy Development Board (NDDB)’s Sustain Plus fertilizer management initiative. This marks the first time that digital currency has been used for carbon credit payments to female dairy farmers.

Dr. Minesh Shah, Chairman of NDDB, transferred carbon credits to 120 women farmers at a ceremony organized by the Jan Shiksha Evam Vikas Sansthan. These farmers had set up biogas plants with partial financial assistance under the NDDB-Sustain Plus program, and the generated carbon credits were registered by NDDB. The credits were monetized and paid to the farmers, with 94 of them receiving their payments in "digital rupees," the Central Bank Digital Currency (CBDC) issued by the Reserve Bank of India.

Speaking at the ceremony, Dr. Shah emphasized that this initiative is a historic step in integrating rural livelihoods with the carbon credit market. This joint effort by NDDB, RBI, PNB, and NPCI paves the way for leveraging digital finance and carbon markets for the benefit of farmers, particularly women, and sets a model for dairy development in India.

PNB General Manager Shyam Sundar Singh expressed pride in being part of this pioneering project, which marks a significant step towards financial inclusion and sustainability in the dairy sector. During the event, PNB also showcased its agricultural and digital products, such as instant loans for farmers, PM Surya Ghar Yojana, PM Vishwakarma Yojana, and others, while promoting financial and digital literacy among the attendees.