Arya.ag launches India’s first Agri Insta-Loan for farmers on its digital platform

Delhi

Arya.ag, India’s largest integrated grain commerce platform, announced on March 15 the first-of-its-kind single-click Agri Insta-Loan for the farming community across India. The Insta-Loan will enable immediate and easy access to loans to users on its digital platform.

With this revolutionary launch, a farmer can avail a loan instantly against his stored commodity from the comfort and convenience of his home.

The integrated digital platform leverages the best of capabilities of AI, ML, IoT and overall new-age digital technologies, to convert each bag of farm produce stored in Arya.ag’s digitally enabled warehouse into an electronic balance. An automated decisioning engine on Arya.ag offers finance against this electronic balance in a few clicks.

Seamless and smooth access to loans empowers small farmers as they can fend off any distress-sale scenarios after harvest.

With immediate access to finance, smallholder farmers and other stakeholders in the value chain can tide over any liquidity requirements. This would empower farmers to optimize the value of their farm produce.

An earlier RBI report pegs that just about 40 per cent of Indian farmers are covered by formal credit. Arya.ag’s Insta-Loan will address the pertinent problem of lack of adequate access to finance faced by Indian farmers.

The company aims to target disbursals of Rs 1000 crore from the Insta-Loan product in FY23.

Chattanathan Devarajan, Arya.ag’s co-founder, said, “The scope of agritech players in enhancing the agrichain ecosystem in India is enormous. At Arya.ag our focus is to empower the country’s farmers by maximizing the value of their farm produce. We enable this through an end-to-end integrated, full-stack solution spanning digitally-enabled warehouses, embedded finance and commerce solutions, all delivered using our tech-led digital platform. Our latest offering, Insta Loan, is designed to comprehensively provide farmers instant access to loans.”

Instant loans are available in most sectors but this is the first time that farmers will have easy and immediate loans at their disposal.