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Fasal partners with SBI to empower farmers with easy access to loans

April 20, 2023
2 mins

We are excited to announce that Fasal has partnered with India’s leading public sector bank, State Bank of India (SBI), to provide farmers with easy access to loans. Fasal, a leading agri-tech platform, has been making strides in revolutionising the agricultural sector with its innovative solutions, and this partnership with SBI is a significant step towards empowering farmers across India.

Fasal and SBI Join Forces to Boost Agricultural Productivity  

This partnership will address cash-flow challenges in farming during critical cycles by delivering quick, convenient, and collateral-free loans at very reasonable rates. Fasal, through SBI, aims to alleviate the financial burden on farmers by offering them hassle-free access to credit, enabling them to meet their financial needs and enhance their agricultural operations.

With easy access to loans, farmers will be able to invest in modern agricultural practices, purchase quality seeds, fertilizers, and machinery, and adopt sustainable farming techniques. This partnership will contribute to the financial empowerment of farmers, helping them reduce post-harvest losses and enhance their agricultural productivity.

The loans will be provided under the Kisan Credit Card (KCC) scheme, renowned for its lowest interest rate among the credit facilities for farmers. Fasal's new service will be initially rolled out in Maharashtra, Karnataka, Chhattisgarh, and Madhya Pradesh, with plans to expand to other states in the future.

SBI is India's largest public sector bank with extensive experience in catering to the financial needs of the agriculture sector. With its wide network of branches and robust infrastructure, SBI brings a wealth of expertise in rural and agricultural banking to this partnership. Fasal, on the other hand, has been leveraging cutting-edge technology, data analytics, and artificial intelligence to deliver innovative solutions for farmers, helping them improve their crop yields and optimise resource utilisation.

Moving Towards a Brighter Future

At 3one4 Capital, we are proud of Fasal's partnership with SBI, which aims to drive financial inclusion and empower farmers with access to credit, ultimately transforming the agricultural landscape in India. We look forward to witnessing the positive outcomes of this partnership and continuing our commitment to fostering innovation and driving change in the agri-tech space.

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