15 March 2022, New Delhi: Arya.ag, an integrated grain commerce platform, today announced the launch of its 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 his stored commodity.
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.