NEW DELHI, Apr 27: Shivalik Small Finance Bank on Thursday said it has partnered with grain commerce platform Arya.Ag to finance small farmers against warehouse receipt.
With this business correspondent model partnership, Arya.Ag, will further its mission to drive financial inclusion for farmers and Farmer Producer Organizations (FPOs) and offer loans through Shivalik Small Finance Bank under Warehouse Receipt Finance, a joint statement said.
To bridge the trust deficit in the ecosystem, Arya.Ag partners with various financial institutions to offer loans to small and marginal farmers including women, who fall out of the consideration of formal banking, it said.
“In line with our vision to focus on small and underserved segments through the delivery of digitally focused, affordable products and differentiated customer experience, partnership with Arya.Ag will enable us to stay connected with the farmers directly,” said Shivalik Small Finance Bank managing director Anshul Swami.
Arya.Ag’s digitised processes, AI enabled systems and customised solutions offer us the additional layer of professional assurance we require at all levels, he said.
The collaboration will not only strengthen the ability to promote equitable growth in agriculture but also offer more opportunities for the smallest stakeholders to access financial resources and drive positive change in the industry, said Anand Chandra, Co-founder of Arya.Ag.
In today’s landscape, the adoption of high-tech banking capabilities is more crucial than ever to meet the needs of a rapidly changing industry and diverse borrower base, it said.
Alliances like these enable ease of business for seamless lending processes, more efficient operations for end-users, and create new opportunities for digital engagement, it added. (PTI)
Follow our WhatsApp channel
