Arya launches first instant loan service for farmers

Targets INR 1000 crore loan disbursal in FY23

MUMBAI, 15 March 2022: Arya.ag, India’s leading integrated grain commerce platform, has announced that it has launched a first-of-its-kind single click agri instant loan for the farming community across India. 

Arya.ag’s instant 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 her stored commodity at her discretion & choice from the comfort and convenience of her home. 

The integrated digital platform leverages the best of capabilities of artificial intelligence (AI), machine learning (ML), interne tof thinks (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.  

Speaking on this launch, 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,” Devarajan adds.

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 instant 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.  

Instant Loans are available in most sectors but this is the first time that farmers will have easy and immediate loans at their disposal.