With the COVID-19 exposing new vulnerabilities on the agriculture sector, crops and livestock prices, vital advice and mentoring are being extended from multiple institutions backing SafalFasal, including Tanager, Bayer, Coromondal, Greaves and other reputed domestic and international players. These relationships have helped farmers match with buyers and ecosystem partners and create contingency plans.
The first of its kind in India, SafalFasal provides linkage to credit providers and also serves as a platform to access suppliers and trade with merchants and distributors, in an end-to-end ecosystem. BPC has shared pilot phase results run between 1st January and 31st March, from this new digital platform, which showcases how SafalFasal has helped Indian farmers. Working with ICICI Bank, as well as microfinance institutions and P2P lenders, SafalFasal provides FPOs and retailers with instant access to digital finance to support farmers previously excluded from the formal economy and immediately pay them for their produce. Over time, FPOs build a financial profile that enables more accurate credit scoring, improving the rate for them, while reducing the risk for the lender.
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SafalFasal unlocks financial access for 75,000 Indian farmers, aims to repair Coronavirus-hit supply chain
Global digital payment solutions leader BPC and its SME Marketplace, SafalFasal, have supported more than 75,000Covid-hit farmers across India by offering technological and financial solutions to help the farm sector keep food and supply chain rolling, during and after the lockdown phase. The company has successfully extended formal financing to the farming industry by creating an easy credit line via NBFCs.
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Contributing about 15 percent to India’s GDP, the agricultural sector sustains almost half the population of the country.
ISSUES AND PRIORITIES FOR INDIAN AGRICULTURE
Agriculture is the backbone of the Indian economy as 60 percent of the population depends directly or indirectly on agriculture.
THE IMPACT OF CORONAVIRUS ON THE AGRICULTURE SECTOR OF INDIA
As the world comes to a standstill and public life shuts down across the globe, all have their eyes on the healthcare systems which are buckled under the strain of the COVID-19 pandemic.
INDUSTRY 4.0 IN AGRICULTURE
At present, the world population is around 7.8 billion and expected to grow up to 8.5 billion in 2030, 9.7 billion in 2050 and 10.9 billion by 2100.
AN OVERVIEW OF THE OUTCOMES OF THE G-20 AGRICULTURE MINISTERS' MEETING
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Climate Change And Its Impact On Indian Agriculture
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Internet Of Things Based Smart Farming: A Revolution On Its Way
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Covid-19 Impact On The Livelihood Of Small And Marginal Farmers
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Covid-19 Implications For Farmers, African Agriculture And Food Security
How will Africa ensure food security for its millions of poor citizens and smallholder farmers?
YOGA & PEACE
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SHIA'S PRIVATE TEMPLE OF DOOM!
Indiana Jones gig derailed by abuse scandal
Let's Dish
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THE MAKING OF A MODEL MINORITY
Indian Americans rarely stop to ask why our entrance into American society has been so rapid—or to consider what we have in common with other nonwhite Americans.
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DIAMONDS - A Luxury Gem Steeped in Fact & Fable
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Women's World
Brown Sugaa and Medusa
Women's World
Brown Sugaa and Medusa
CHINA DEMANDS INDIA RESCIND APP BAN AMID BORDER TENSION
China on Wednesday demanded India rescind a ban on more Chinese mobile phone apps amid tension between Beijing and other governments over technology and security.