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AFS Connect enables two-way data transfer between the machine and the farm office computer 

 

Case IH is introducing new Quadtrac and Steiger AFS Connect™ series tractors for the 2021 season with specific features for the European market, and incorporating new technology designed to ease the data recording and transfer requirements central to modern large-scale farming. They also benefit from similar cab comfort and control upgrades to those introduced initially on the Magnum AFS Connect series launched in 2019.

New line of tracked and wheeled articulated tractors / Proven powertrains with redesigned operator environment for enhanced comfort / Advanced technology helps ease operation and provides two-way data transfer for ultimate connectivity / Fully available in Europe in 2021 . 

When developing the AFS Connect technology embedded into the new tractors, Case IH engineers focused on making data capture simple and data transfer seamless to ensure it can help enhance productivity. AFS Connect enables two-way data transfer between the machine and the farm office computer to allow farmers to manage with precision their farm, fleet and data from their office or mobile device.

When developing the AFS Connect technology embedded into the new tractors, Case IH engineers focused on making data capture simple and data transfer seamless to ensure it can help enhance productivity. AFS Connect enables two-way data transfer between the machine and the farm office computer to allow farmers to manage with precision their farm, fleet and data from their office or mobile device. 

AFS Connect technology is powered by three system components: 

The AFS Pro 1200 display: A control terminal with 12in screen providing comprehensive operating data, and incorporating remote display viewing to allow farmers and – where owners grant permission, dealers – to remotely view the screen, plus easy Bluetooth pairing to link a mobile device, four exterior camera feeds and high screen visibility day and night.

AFS Vision Pro operating system: uses a smart phone/tablet operating style for ease of use and can be controlled via either the touchscreen or a rotary dial according to preference.

AFS Vector Pro receiver: streamlines guidance correction options, ranging from base (WAAS and AFS 1) to medium (AFS 2) to high (RTK and AFS RTK+) accuracy levels.

 

AFS Connect enables two-way data transfer between

Maersk and KGH will work together on establishing a joint operating model and optimal structure to serve their customer base

 A.P. Moller – Maersk, has now completed the acquisition of the European customs services specialist to further enhance its logistics and services offering.  The company has finalised on 2nd September the acquisition of KGH Customs Services, a pan-European customs services provider, further strengthening its capabilities as an integrated container logistics company, offering end-to-end supply chain solutions to its global customers. 

“I am very pleased that we can now officially welcome KGH into the Maersk family”, says Karsten Kildahl, Regional Managing Director of Maersk in Europe. “The integration process now begins, and we are very excited to start working together and start learning from one another.” 

The whole KGH team is looking forward to closely collaborating with our new Maersk colleagues on providing a range of different services within the transportation and logistics industry as one combined entity. Our enhanced product portfolio and geographical reach will enable us to serve our customers and their growing needs even better”, says Lars Börjesson, CEO of KGH Customs Services. 

During the remainder of 2020, Maersk and KGH teams will work together on establishing a joint operating model and optimal structure to serve their customer base going forward. Customers will meanwhile continue to interact with their current contacts in both organisations and enjoy the usual level of service.

Lars Borjesson, CEO of KGH, will going forward lead the combined customs related activities of both KGH and Maersk in Europe.

Maersk and KGH will work together on

By Dr Minshad Ansari, CEO & founder, Bionema, UK

 BioProtection (known as bio pesticide) solutions present one of the fastest growing sectors in crop protection and pest control, but their development and uptake are being delayed and obstructed in the EU by irrelevant regulations that are preventing them from reaching the market. There is an urgent need for a review of European regulatory requirements for BioProtection solutions, to ensure that end-users in the EU have access to these products and to allow developers and manufacturers in the EU to compete fairly with their counterparts in other parts of the world. 

For centuries, chemical pesticides have been used to control crop pests. Currently, US$70 billion is spent on chemical pesticides annually (MarketsAndMarkets research report, 2020), in efforts to control crop pests that cause $470 bn of damage worldwide (T.W. Culliney, 2014). However, due to indiscriminate use of these toxic chemicals, more than 500 species of insects, mites and spiders have developed some level of pesticide resistance. Already in the EU, almost all of Pesticide Action Network (PAN) international ‘dirty dozen’ pesticides (actually covering 17 different pesticide groups) have now been banned, with the notable exception of the highly hazardous herbicide parquet, due to their negative impact on human health and the environment. Alternative BioProtection solutions, which harness natural enemies of pests and diseases, offer a cleaner, effective way to fill the gap in the market. 

BioProtection Market

BioProtection solutions comprise natural materials derived from animals, plants, and bacteria, as well as certain minerals that are used for pest control. Almost 50% of the microbial BioProtection solutions currently available on the market are derived from only one entomopathogenic bacterium Bacillus thuringiensis or ‘Bt’.  BioProtection solutions comprise a small share of the total crop protection market globally, with a value of about $4.3 bn worldwide, but this share is growing at an estimated 14.7 per cent  CGAR and it is expected to reach $8.5 bn by 2025 (MarketsAndMarkets, 2020). 

The growth of this sector is important, as the world’s future demands ever-increasing food production to feed an expanding world population, while regulators across the globe are banning toxic chemicals that leave gaps in our ability to control various crop pests. 

BioProtection solutions have become increasingly popular in recent years and are considered safer than conventional pesticides. BioProtection products are by their nature less detrimental and are more specific to the target pests. Additionally, these solutions are effective in small amounts and decompose quickly without leaving residues. Therefore, they could reduce the use of toxic chemical pesticides, as an essential part of Integrated Pest Management (IPM). 

Regulations of BioProtection

BioProtection products are assessed in the EU by the same regulations used for the assessment of chemical active substances. However, solutions that contain living micro-organisms (such as bacteria, fungi or viruses) are not chemicals – they are biological products that are subject to a range of different requirements and concerns. For example, rather than requiring levels of environmental toxicity – when no chemical toxicity exists – regulators could instead focus on the natural features of the micro-organisms involved, and possibly even their potential to harm to beneficial insects rather than their positive effect on crop pests and diseases (however, it must be noted that harm to beneficial insects is usually minimal, as nature is generally target-specific in order to maintain its natural balance). 

Currently, there are fewer BioProtection active substances registered in the EU than in the United States (US), India, Brazil, or China. In the US market, where the biological advantage of these solutions has been more formally recognised, more than 200 BioProtection products are already available, compared to 60 products in the EU market. The relatively low number of registered BioProtection products in the EU is related to the greater complexity of EU-based BioProtection regulations. 

Biocontrol products generally have little or no effect on human health, non-target organisms and the environment. However, the registration of BioProtection products continues to be a lengthy process. Since 2009, active substances and products for use in agriculture have been evaluated in accordance with Regulation 1107/2009. The data requirements are the same for active substances and chemical and microbial products, which often cause obstacles when registering BioProtection products. Some data requirements that can be easily met for synthetic chemicals cannot be met for microbial products and for technical reasons. This takes much longer than US Environmental Protection Agency (EPA) registration. Moreover, the high cost ($5-10 million) related to the single registration of new agents is another aspect limiting the commercialisation of new products. 

Experience of SMEs

The BioProtection sector is dominated by micro SMEs, many of which were initiated by academics/scientists with ground-breaking ideas. However, those ideas will never come to fruition if the innovations inspired by these brilliant entrepreneurs continue to be obstructed by costly, over-complicated, unnecessary regulations. 

If new products could reach the market more quickly, they would generate income that would enable these micro businesses to survive. Faster procedures and enforcement of time limits are important. It cannot be denied that the EU registration process of BioProtection products impedes the commercialisation of these products. 

The biocontrol sector is unique in that it comprises many small enterprises and start-ups alongside the giants of the AgriTech industry. Dr Minshad Ansari, Founder and CEO of Bionema said: “The regulatory authorities should try to ensure fast-track registration of BioProtection products based on justified regulations, promoting the adoption of safer technologies in the development of commercial products. Additionally, the regulatory system should enable small-medium enterprises dealing with BioProtection to develop, so that they can provide growers with reliable tools for the economical control of pests and allow them to supply products that meet the expectations of consumers.” 

Prospects

BioProtection products have long been attracting global attention as a safer approach than chemical pest control practices, with potentially less risk to humans and the environment. To this end, regulators should not compare BioProtection products with chemical pesticides.

The discovery of new microbial control agents and research on formulation and delivery could boost the efficacy of BioProtection and consumer satisfaction. However, regulations must be adapted to make the development and commercialisation of these solutions more feasible, otherwise there will be a huge gap in the market after the removal of banned toxic chemical pesticides. 

The recent EU commitment to reduce pesticide use by 50% within next 10 years is the right way forward, from an environmental and human health point of view. However, BioProtection products cannot fill this gap in the market if the current lengthy, and costly, EU registration process continues.

 

By Dr Minshad Ansari, CEO & founder,

Joins the select few list of Methanol producers in India 

Taking a step towards Atmanirbhar Bharat Abhiyan, Rashtriya Chemicals and Fertilizers Ltd (RCF), a PSU under the Ministry of Chemicals and Fertilizers has started its Methanol Plant at Trombay Unit, Mumbai from September, 8, 2020.

With the capacity to now produce 242 MT of Methanol per day, RCF had earlier been importing Methanol for its internal consumption and also for trading purposes.

Methanol is widely being used in the production of pharmaceuticals, pesticides and dyestuff. With very limited domestic production, the requirement was being met till now with imports.

In the endeavor to support self-sufficiency in fertilizers, RCF has ramped up the production of its popular complex fertilizer, SUPHALA 15:15:15 by enhancing its production from 1500 MT per day to 2200 MT per day. As a result, the production of SUPHALA increased by 17.3 percent in the month of August 2020 as compared to August 2019.

Despite facing multiple hurdles in the day-to-day operations, during the prevailing COVID-19 pandemic period, including production and supply chain management, RCF has been able to achieve an increase of 10.81 percent in its fertilizer sales in the month of August 2020 as compared to August 2019.

 



Joins the select few list of Methanol

Planting Master Potato+ ensures a high level of singulation and no missing potato seeds 

Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, recently launched its new advanced precision potato planting machinery, the new ‘Planting Master Potato+’. 

Designed and developed in collaboration with Europe-based partner Dewulf, a global leader in potato machinery, the new Planting Master Potato + has been developed to suit Indian farming conditions, to offer higher yields and enhanced quality. 

Mahindra and Dewulf have in 2019, partnered with progressive farmers in Punjab to introduce the new precision potato planter technology. These farmers have reported a 20-25 percent increase in yields, over traditional methods, after they began using this system. 

Highlighting the launch, Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra said, “As the world’s second largest potato producing nation, advanced farm machinery is needed to drive up yields and improve quality. With the ‘PlantingMaster Potato +’, we are bringing this technology to Indian farmers to drive productivity and quality improvements in potato farming. As we launch this product, the precision planter is also available on a rental basis in some markets, and offered through easy financing for purchase, making this new technology accessible to Indian farmers”.

India is the second largest producer of potatoes in the world, but it lags in yield. Yield per acre in India is 8.5 tonnes per acre compared to the Netherlands which is at 17 tonnes per acre, with many elements determining the level of crop yields. The use of appropriate farm machinery is one of the more important elements.

 The new Planting Master Potato+ will be available for sale in Punjab, on sale and rent in Uttar Pradesh and for rent in the Gujarat market through Mahindra’s rental entrepreneur network.

Planting Master Potato+

While traditional potato planting techniques are widely practiced in India, they have many drawbacks. Planting when done by hand is prone to the same drawbacks in addition to being very laborious. 

PlantingMaster Potato+ is a precision potato planter that ensures a high level of singulation and no missing potato seeds. Singulation means only one potato is planted in one spot and there is no doubling– that is two potatoes planted in a single spot. Additionally, the planter ensures that potatoes are planted accurately, ensuring uniform depth and uniform seed to seed distance. The ridges created over the planted potatoes have just the right level of soil compaction. This ensures that each plant has enough water, sunlight and space to grow, developing healthy tubers and resulting in increased crop yields and potato quality. 

The design of the planter is such that it can be adjusted for changes in agronomy practices, such as for whole potatoes or cut potatoes, straight line planting or zig-zag planting and planting at various levels of depth. 

The new PlantingMaster Potato+ is backed by Easy Access to spares and service at the farmers’ doorstep through Mahindra dealerships, including finance options and a 1-year manufacturing warranty.

 

Planting Master Potato+ ensures a high level

 It provides effective solutions against Wheat Leaf Rust, Rice Sheath Blight, Soybean Cyst Nematodes, and Fusarium in Maize 

LPC Naturals (lpcnaturals.com), a division of Lackawanna Products Corporation, a privately-owned commodity trading company diversified in marketing agricultural commodities, announced that growers and researchers have provided compelling evidence from field trials that their Beauveria bassiana products, SPE-120 and SBb 2.5, can have major beneficial effects against some of the main causes of the world’s crop losses in wheat, rice, maize, and soybean. 

We truly believe this is a game changer,” said Dr. Paul Rushton, LPC Naturals’ Chief Scientific Officer. “We are looking not only at a change in the way people grow crops, but also a change in the way people think about growing crops. Using our innovative natural products can bring major benefits against the world’s leading causes of crop diseases and reduce the dependency on chemicals. Results from farmers and growers show that the future of farming is natural rather than chemical.” 

Crop pathogens and pests reduce the yield and quality of agricultural production. They cause substantial economic losses and reduce food security at household, national and global levels. Recently, international researchers based in France, the United States, and the Netherlands established the losses by leading pests and pathogens globally in wheat, rice, maize, soybean and potato (https://www.nature.com/articles/s41559-018-0793-y). The leading causes of crop loss were Wheat Leaf Rust, Rice Sheath Blight and Fusarium in maize, and Soybean Cyst Nematodes. Field trials now indicate that our products can have major beneficial effects against these pests and pathogens. 

“The ability of our products to reduce the impact of one of the world’s major diseases in crop plants would in its own right be a significant step forward.” added Nicholas Bianco, Director of Business Development at LPC Naturals. “Reducing the effects of the major diseases in corn, wheat, rice, and soybean is quite staggering. The bonus is that LPC Naturals SPE-120 and SBb 2.5 products can reduce the impact of many diseases, not just the most economically important ones.”

 Chief Marketing Officer Christopher J. Lent added “We are hoping to be able to help growers immediately as they start to plant cover crops and winter wheat. We are also developing exciting new products for indoor farming that will be available in 2020.”

 

 It provides effective solutions against Wheat Leaf

In past years the company began to look at diversifying into other specialty chemicals such as pharmaceutical intermediates. 

 

Specialty chemical firm PI Industries is actively looking at the pharmaceutical sector as their next growth opportunity and to diversify from agrochemicals and technical textiles. They are seeing a surge in demand for intermediates or raw materials used for producing active pharmaceutical ingredients, following the coronavirus pandemic.

“In pharma, we have received a lot of enquiries to develop intermediates, especially after the pandemic. We developed an intermediate for a covid-19 drug, favipiravir, for some Indian and Japanese firms,” said PI Industries executive director Rajnish Sarna.

Specialty chemical firms, which were eyeing the intermediates business for the past few years, received a boost from the pandemic and the focus on localizing pharmaceutical supply chains.

PI Industries earns the bulk of its revenue from the agrochemical business. However, in the past three to four years, the company began to look at diversifying into other speciality chemicals such as pharmaceutical intermediates and imaging until it entered the segment this fiscal. 

PI Industries’ foray into pharmaceuticals has been a manifestation of their perseverance. PI Industries’ FY20 annual report speaks vividly of finding adjacencies beyond agro-chemicals and to be able to find their feet in knowledge chemistries. The company has been consistently investing in R&D (3.5% of sales: Rs 115mn) to build a robust pipeline of novel molecules (closed FY20 with 60 molecules in the pipeline) and endeavours developing next generation, technology and processes.

 

PI Industries has had a penchant for setting foot in advanced chemistries (as mentioned in previous annual reports) like fluorination, phosgenation, carboxylation and that now, makes more sense – the company completed work on setting up facility to undertake fluorination chemical synthesis and initiated process development of a few molecules. The company’s vision of CHEMISTRY 4.0, enabled deployment of new analytical tools to improve process efficiencies. PI Industries is at the cusp of being seen as a diversified chemical company and paving ways into pharmaceuticals, fine chemicals, and knowledge chemicals augurs well for shareholders.

In past years the company began to

11 lakh farmers have benefitted by the adoption of drip and sprinkler irrigation system

Union Minister of Agriculture and Farmers Welfare, Rural Development and Pachayati Raj, Narendra Singh Tomar recently said that the government has set the target of covering 100 lakh hectares under micro-irrigation in five years’ time.

The webinar on ‘Enhancing water use efficacy and coverage of micro-irrigation in India agriculture’ which was addressed by Tomar was attended by over 100 participants from various departments of the central government, state government and implementing agencies.

Tomar pointed out that around 11 lakh farmers have benefitted by the adoption of drip and sprinkler irrigation systems and during the last five years, an area of 47.92 lakh hectares has been covered under micro-irrigation in the country.

Furthermore, he said that the Department of Agriculture, Cooperation and Farmers Welfare (DAC&FW) is implementing the ‘per drop more crop’ component of the Pradhan Mantri Krishi Sinchayi Yojana since 2015-16 for enhancing water use efficiency in the agriculture sector and more importantly for the overall benefit of the farmers.

Tomar further said that there is a need for adopting a holistic approach for more production from unit area by improving soil health, reduction in input costs, enhancing crop productivity and increasing farmer’s awareness for benefiting the farming community and helping the vision of PM Narendra Modi for doubling of farmers’ income.

11 lakh farmers have benefitted by the

Rashevskiy replaces Petter Østbø in the position of CEO.  

 

 

EuroChem Group (hereafter “EuroChem,” “the Group” or “the Company”), a leading global fertilizer company, announces the appointment of Vladimir Rashevskiy as Chief Executive Officer.

 Rashevskiy recently stepped down as CEO of SUEK, which became one of the leading coal and energy companies in the world under his 15 years of leadership, reaching top positions in Russia’s electrical energy market and also becoming a key player in Russia’s transport industry.

“I’m delighted to confirm the appointment of Vladimir Rashevskiy,” said Samir Brikho, the Chairman of the Board at EuroChem. “We know Vladimir well through his management of SUEK, where he built a solid track record of success over the years. Through his efforts, the company has achieved impressive results. We are counting on his experience as EuroChem enters a new phase of development.”

 Rashevskiy commented: “I’m very pleased to join EuroChem, a top global fertilizer producer, and together with the team I look forward to making a significant contribution to its continued growth.” Rashevskiy replaces Petter Østbø in the position of CEO.

“We thank Petter for his contribution to EuroChem’s success and wish him all the best in his future endeavours,” added Brikho.

 

Rashevskiy replaces Petter Østbø in the position

 The train provides fast transport connectivity between Anantapur to New Delhi in approximately 40 hours. 

 

 

Narendra Singh Tomar, Minister of Agriculture and Farmer Welfare, Rural Development and Panchayat Raj Government of India and Y.S. Jagan Mohan Reddy, Chief Minister of Andhra Pradesh flagged off the Inaugural Run of Anantapur – New Delhi Kisan Rail. The Program was presided over by Suresh C. Angadi, Minister of State for Railways, Government of India. The newly introduced Kisan Rail starts from Anantapur Railway Station in Andhra Pradesh and reaches Adarsh Nagar Station, New Delhi.

Speaking on the occasion, Narendra Singh Tomar said that, “it is the first Kisan Rail from South India connecting to National capital for the benefit of the farmers. It was the guidance and inspiration by the Prime Minister, Narendra Modi ji that Indian Railways have started Kisan Rail with a motive to encourage the villages and farmers. Kisan Rail will ensure that agro products reach from one corner to another corner of the country”.

 Suresh C. Angadi stated that Hon’ble Prime Minister’s vision and the pronouncement made in the budget materialized in introduction of Kisan Rail with the aim of doubling the income of farmers. As “lifeline of the nation Indian Railways is committed to the facilitation of marketing the farmer’s produce”.

Fast transport connectivity

The rake of Kisan rail is loaded with 14 parcel vans – 04 vans load meant for Nagpur and another 10 Vans load for Adarsh Nagar – totalling 332 tonnes. The inaugural Kisan Rail loaded with Tomato, Bananas, Sweet Orange, Papaya, Muskmelons and Mangoes. The train provides fast transport connectivity between Anantapur to New Delhi with the distance of 2150 Km being covered in approximately 40 hours.

Fruit bowl of India

  Anantapur is fast becoming the Fruit Bowl of Andhra Pradesh. More than 80 per cent of the 58 lakh MT of fruits & vegetables in the district is marketed out of the state, particularly to the north Indian States of Delhi, UP, Punjab and Haryana among others. Earlier this was being transported by roadways which was not only time taking but also leading to reduction in price realisation of the farmers due to enroute damages. Transportation by railway provides a safe, reliable and fast transportation which will aid in better price realisation for the farmers and thereby helping in better incomes for the farmers and traders.

   The Railway team at Guntakal (particularly the newly set up Business Development Unit) along with the cooperation of the District Administration and State Government Officials have played a crucial role in making the farmers/traders aware of the benefits in loading by railways, which led to today’s inaugural rail.

 

 

 

 The train provides fast transport connectivity between

Project worth Rs 107 crore sanctioned

The Pradhan Mantri Matsya Sampada Yojana (PMMSY) for Bihar envisages an investment of Rs 1390 crore with Central Share of Rs 535 crore and the additional fish production target is pegged at 3 lakh tons.

During the current financial year (2020-21), Government of India has sanctioned the proposal of Government of Bihar at a total project cost of Rs 107 crore. PM Narendra Modi will announce the establishment of Fish Brood Bank at Sitamarhi and of Aquatic Disease Referral Laboratory at Kishanganj, for which assistance has been provided under PMMSY.

Modi will inaugurate one-unit fish feed mill at Madhepura and two units of ‘Fish on Wheels’ assisted at Patna under Blue Revolution. The Comprehensive Fish Production Technology Centre at Dr Rajendra Prasad Central Agricultural University at Pusa will be unveiled by the PM as well. 

IVF lab for cattle

The PM will inaugurate Semen Station with state of the art facilities, which has been established under Rashtriya Gokul Mission in Purnea, Bihar with an investment of Rs 84.27 crores on 75 acres of land made available by the State Government of Bihar.  Also slated for unveiling is an In vitro fertilization (IVF) lab established at Animal Sciences University, Patna under Rashtriya Gokul Mission. The PM will also launch use of sex sorted semen in artificial insemination under Rashtriya Gokul Mission by Baroni Milk Union in Begusarai district of Bihar.

Project worth Rs 107 crore sanctionedThe Pradhan

The e-Gopala app also launched during the function

The Pradhan Mantri Matsya Sampada Yojana (PMMSY) was launched by Prime Minister Narendra Modi on September 10, 2020 via video conferencing. The flagship scheme is aimed at focused and sustainable development of the fisheries sector

The Prime Minister said that the Matsya Sampada Yojana is being launched in line with the AatmaNirbhar Bharat goals. He said it is being launched in 21 States of the country with an investment of Rs 20,000 Crores which would be spent in the next 4-5 Years. Out of this, projects worth Rs 1700 crores are being launched today.

Under this scheme he said that many facilities have been inaugurated in Patna, Purnia, Sitamarhi, Madhepura, Kishanganj and Samastipur.

The PM also launched the e-Gopala App, a comprehensive breed improvement marketplace and information portal for direct use of farmers. The PMMSY will have an estimated investment of Rs 20,050 crores for its implementation during a period of 5 years from FY 2020-21 to FY 2024-25 in all States/Union Territories.

Out of this, an investment of about Rs 12340 crores is proposed for beneficiary-oriented activities in Marine, Inland fisheries and Aquaculture and about Rs 7710 crores investment for Fisheries Infrastructure.

PMMSY aims to enhance fish production by an additional 70 lakh tonne by 2024-25, increasing fisheries export earnings to Rs.1,00,000 crore by 2024-25, doubling of incomes of fishers and fish farmers, reducing post-harvest losses from 20-25% to about 10 percent and generation of additional 55 lakhs direct and indirect gainful employment opportunities in fisheries sector and allied activities.

Special focus will be given for employment generation activities such as seaweed and ornamental fish cultivation. As of now, under the PMMSY, the Department of Fisheries has approved Rs. 1723 crores worth of proposals for 21 States/UTs in phase-I.

 

The e-Gopala app also launched during the

The bank is using Artificial Intelligence (AI) and Machine Learning (ML) in a big way for generating business 

State Bank of India is planning to launch a loan product, SAFAL, primarily focused on organic cotton growers who don’t have any credit history, said a top official of the country’s largest lender. 

The bank is using Artificial Intelligence (AI) and Machine Learning (ML) in a big way for generating business, SBI managing director C S Setty said speaking at a Fintech conference organised by Federation of Indian Chambers of Commerce and Industry (FICCI). 

“We want to go beyond this so-called retail segment and reach out to… like farmers. Today I am not only giving crop loans… We are about to launch a product called Safe and Fast Agriculture Loan (SAFAL). There is a company which brought all the organic cotton growers and created a database on the basis of block chain,” Setty said. 

He further said that any buyer of this cotton across the world can check whether the farmer actually is growing the organic cotton. “We are just taking the data and providing the credit linkage to them because they don’t have the credit history. They are not borrowers of crop loans but we have the ability to pick them up because the technology has brought them together and provided the market visibility to them,” he added.

Citing another example of use of AI and ML, Setty said the bank has done 1.7 million pre-approved loans and 21,000 crore businesses have been booked under this product during the lockdown. 

Observing that the power of data analytics has been fully appreciated by the bank, he said, “our AI/ML department is not an experimental department, it is a business-oriented department. We have had a net income creation of about ₹1,100 crore in the last two years.” 

Currently, he said, the bank has more than 40 Machine Learning based models which it uses across the spectrum for business, risk mitigation, fraud management. The bank has built a capability which is unmatched in the banking industry, he claimed.

 

Source- PTI

The bank is using Artificial Intelligence (AI)

More farmers, allied industries could adopt sustainable agriculture

Khadi and Village Industry Commission’s (KVIC) website (www.kviconline.gov.in/khadimask) has quickly gained popularity across India helping artisans sell their products to the remotest parts of India. The portal that was launched with just khadi face masks on July 7, 2020, has evolved into a full-fledged E-market platform with 180 products as of now and many more in the pipeline.

The shift towards Khadi products could benefit farmers become self-reliant and help steer them towards the traditional Indian approach to sustainable and eco-friendly agricultural practices.

KVIC is adding at least 10 new products to its online inventory every day and has set a target of adding at least 1000 products by October 2, 2020. In less than two months’ time, KVIC has served nearly 4000 customers. The product range is priced from Rs 50 to Rs 5000, keeping in view the choice and affordability of all sections of buyers.

Customers have expressed great satisfaction over the online sale of Khadi products. KVIC has received online orders from 31 States and Union Territories. It has fixed the minimum order value at Rs 599 for free delivery of goods and has entered into an agreement with the Postal Department for delivery of consignments via Speed Post.

More farmers, allied industries could adopt sustainable