NEW DELHI, 27 June 2023: Dvara E-Registry (DER), an agri-fintech incubated by Dvara Holdings, has released its Impact Report showcasing the transformative effects of its interventions on India's smallholder farmers.
The report highlights the successful utilization of technology and financial accessibility to empower farmers and enhance their livelihoods.
With the Indian government's focus on doubling farmer's income and promoting Farmer Producer Organisations (FPOs), DER has played a pivotal role in supporting 25 FPOs across Maharashtra, Madhya Pradesh, Rajasthan, Odisha, and Manipur.
The impact study, initiated in October 2022, examined various aspects such as FPO operations, the usage of the Doordrishti Krishak Application, financial linkages, and overall farmer experiences with FPOs.
The study reveals that 70 percent of the surveyed farmers expressed satisfaction with their respective FPOs, with 31 percent reporting extreme satisfaction. This highlights the significant positive impact of DER's interventions on the farming community. Samir Shah, Executive Vice Chair & Co-Founder of Dvara Holdings, emphasized the commitment to enhancing financial inclusion and improving the economic strength of smallholder farmers.
He praised the role of Dvara E-Registry in transforming lives through technology and innovation, aligning with the mission of ensuring access to financial services for all.
DER offers comprehensive services throughout the FPO development process, aiming to enhance their efficacy and sustainability. The study involved 1498 farmers who have benefited from these services. Notably, approximately 70 percent of the surveyed farmers were new-to-credit, demonstrating DER's contribution in bridging the gap left by traditional banks, NBFCs, and microfinance institutions.
Farmers reported high satisfaction with the services provided by their FPOs, including competitive pricing for agricultural inputs and improved market access.
The impact study also highlighted DER's role in providing vital services such as soil testing and block weather forecasts, enabling farmers to make informed decisions. Through DER's intervention, farmers have negotiated better pricing with input manufacturers and suppliers, resulting in an average profit of around 10 percent.
Tharakeswar G, Co-Founder of Dvara E-Registry, emphasized the positive influence of technology in enhancing agricultural productivity and equipping farmers with necessary skills and resources to thrive.
As part of Dvara Holdings, DER collaborates with 50 FPOs across multiple states, offering comprehensive support and market linkages over a five-year period. With successful partnerships established with over 160 FPOs and reaching more than 55,000 members, Dvara E-Registry is committed to driving financial inclusivity and reshaping the agricultural landscape of India.
Dvara E-Registry's digital platform, Doordrishti, has been recognized for its innovative approach and contribution to financial inclusion. It enables stakeholders in the agricultural value chain to access financial and advisory services, digitize land and business activities, and provide tailored products and services to farmers and FPOs.
Through continuous innovation and strategic initiatives, Dvara Holdings and Dvara E-Registry are reimagining the path to financial inclusivity, promising an empowered and prosperous future for India's farming sector.
About Dvara E-Registry
Dvara E-Registry, an agri-fintech startup, develops the Doordrishti platform to improve access to financial and advisory services for agri value chain stakeholders. Recognized for its pioneering work, Dvara E-Registry aims to enhance financial inclusion for smallholder farmers and has received prestigious awards for its innovative approach in driving agricultural transformation.
