Connect with:
Tuesday / July 2. 2024

logo
mobile-logo
HomePosts Tagged "FPOs (Farmer Producer Organizations)"
AgroPolicy, India

CSC SPV will enable FPOs to provide the services that are available on the Digital Seva Portal and also conduct training and Capacity Building of FPOs.

An MoU between CSC SPV and Ministry of Agriculture & Farmer’s Welfare was signed to convert FPOs registered under ‘Formation & Promotion of 10,000 FPOs scheme’ into CSCs and help them to deliver citizen-centric services.

As per MoU, 10,000 FPOs will be converted into CSCs. CSC SPV will enable them to provide the services that are available on the Digital Seva Portal. Training and Capacity Building of FPOs will be done by CSCs.

This initiative will give a new dimension to the movement of rural development and digital empowerment of the country. There will be an immense increase in agriculture related services of CSC. It will also help FPOs to become a nodal centre for providing various services like Direct Benefit Transfer (DBT), Interest Subsidy Scheme (ISS), Crop Insurance Scheme (PMFBY) and fertilizer and seed inputs.

The MoU was signed by Sanjay Rakesh, MD & CEO, CSC SPV and Faiz Ahmed Kidwai, Additional Secretary, Ministry of Agriculture in the august presence of Shri Manoj Ahuja, Secretary, Ministry of Agriculture and Farmers Welfare.

The Government of India launched the Central Sector Scheme for “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)” in the year 2020 that is enabling farmers to enhance their bargaining power, leverage economies of scale, reduction in cost of production and enhancing farmers’ incomes through aggregation of their agricultural produce, thus playing a major role towards sustainable incomes. After today’s initiative, delivery of CSC services through FPOs will increase employment opportunities in rural areas.

The CSC has always strived to improve the lives of citizens in rural areas through various initiatives. Farmers and agriculture are an integral part of our initiative. Thanks to the vast network of CSCs present in remote areas of the country, they are already providing various services to the farmers through tele-consultation, crop insurance, e-veterinary, Kisan Credit Card and PM Kisan schemes.

During the programme, Sanjay Rakesh, MD-CEO, CSC SPV, said, “It is a matter of immense pleasure that 10,000 FPOs will now function as Common Services Centres. With this initiative, more farmers who are associated with FPOs, will be able to avail the benefits of CSC services. This will enable FPOs to provide citizens with all the services that are available on CSC Scheme’s Digital Seva Portal.”

CSC SPV will enable FPOs to provide

Agrotech, Company News, Finance, India, Start ups, Supply Chain, Warehousing

With unique Fintech service offerings for smallholders, the firm records over 4X growth in loan disbursals

Arya.ag, India’s largest and only profitable agritech platform at scale, announced its milestone of crossing Rs 1000 crore worth of loan disbursals in a single year through its fintech platform – Aryadhan. With the objective of providing ‘financial inclusion through ease of finance’ to smallholders, Arya. ag’s built-in digital capabilities support their immediate liquidity requirements, enabling a good harvest season.

Over the last 3 years, Arya.ag has been able to grow its loan disbursals from Rs 281.63 Cr in FY 2021 to Rs 1015.76 crore FY 2023.

The core of Arya. ag’s strategy lies in digitizing stored produce into an electronic balance that can be stored, offered as security for a loan, or sold at the click of a button. Borrowers can then avail of a loan on their produce without the need to sell it to generate cash flows with Arya. ag’s first-of-its-kind single-click agri loan, Insta-Loan. Seamless facilitation of credit also helps de-link farmers from non-institutional sources where they are compelled to borrow at steep interest rates.

Arya.ag also provides loans to Farmer Producer Organisations, Arya Mitr, with a Line of Credit to make quick and hassle-free payments to their farmers and input suppliers for any transactions. Arya. ag’s technology stack built on IoT, analytics, AI, and ML, enables minimal transaction costs and an expedited turnaround time (TAT) for loan disbursements, making it a valuable offering for smallholders and FPOs (Farmer Producer Organizations) who can fend off all distress and maximise the value of each grain.

Anand Chandra, Co-Founder, Arya.ag says, “Our objective to attain cohesiveness between agricultural value chains, cutting-edge finance and technology to create a highly scalable offering continues to be our driving force. Our growth and profitability have further motivated us to reimagine the ecosystem. This milestone is a recognition of our efforts to further the financial inclusion of farmers into the formal economy.”

With its unique phygital model, Arya.ag has been more relevant in near farm locations where banks are largely averse to lending, citing risk considerations. Its unique value proposition continues to find increased relevance amongst Agri stakeholders. More than 98 per cent of all loans on Arya.ag are disbursed digitally, and the portfolio remains impeccable with near-zero NPAs.  Arya.ag has also launched a first-of-its-kind public agri blockchain ledger and is now in the process of moving its loan operations onto the blockchain.

With unique Fintech service offerings for smallholders,