Arya.ag ties up with MAS Financial Services to offer agri-finance to farmers : Rashtra News
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The alliance will leverage Arya.ag’s digital technologies-led customer interface that enables a seamless and intelligent new-age end-user experience delivered over the fintech platform. Arya.ag’s distinct near-farm gate integrated offering, spanning storage solutions, digital lending and digital marketplace, works as the ideal platform for small & marginal farmers otherwise deprived of access to financial services.
Initially, the tie-up will offer digital lending services delivered over Arya.ag’s platform, to farmers in Maharashtra, Gujarat, Rajasthan and Madhya Pradesh. With this tie-up, Arya.ag & MAS Financial Services are aiming to achieve INR 100 crore co-lending portfolio with new-age digital technologies driving this enablement. For borrowers, the eventual benefit is in the form of competitive costs and hassle-free loan processing with technology at the back end taking care of all inter-financier transaction requirements.
The farm produce-as-collateral model has ensured that Arya.ag’s lending services has been NPA-free since inception with an average per borrower ticket size of Rs 28 lakh. The technology-led model of Arya.ag enables minimizing transaction costs along with lower interest rates for the borrowers while expediting the turnaround time (TAT) for loan disbursements. The company facilitates finance of over $700 million annually.
The company is also in discussion with various banks for co-lending arrangements as it aims to serve as the biggest fintech platform in the agri-space with a win-win proposition for both recipient farmers and Banks which presently face challenges in reaching out to rural India with limited connectivity.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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