Arya.ag targets INR 1000 crore loan disbursal in FY23 under its Insta Loan product
Arya.ag, India’s largest integrated grain commerce platform, today announced first-of-its-kind single click Agri Insta-Loan for the farming community across India. Arya.ag’s 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 her stored commodity at her discretion & choice from the comfort and convenience of her 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 shall empower farmers to optimise the value of their farm produce.
An earlier appeared RBI report pegs that just about 40 percent 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 INR 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 maximising 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.
ABOUT ARYA
Arya.ag, India’s largest and fastest-growing integrated grain commerce that eliminates the trust deficit in the grain commerce value chain through its disruptive integrated PAN India platform that delivers value to all stakeholders by enabling access to high-quality produce, products, and services. Powered by an exponentially growing layer of visibility and control currently stretching across 425 districts in 21 states, 10,000 warehouses and USD 2 billion of grain, Arya.ag offers the assurance of quality supply to buyers and on-time fair payment for their produce and allied services to seller. It seamlessly embeds finance to maximize value for both sellers and buyers and the platform facilitates over USD 700 Mn of finance annually.
This article was shared with Prittle Prattle News as a Press Release.
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