Agritech platform Arya.ag launches agri Insta-loan for farmers

Integrated grain commerce platform Arya.ag launched a first-of-its-kind single click Agri Insta loan on its digital platform for the farming community across India.

Insta-Loan will make available instant and easy loans to users on its digital platform, a statement said. With this launch, a farmer can avail instant loan against his stored commodity at his discretion and choice from the comfort and convenience of his home.

How does Insta loan work?

The integrated digital platform leverages the capabilities of AI, ML, IoT, and holistic new-age digital technologies to convert each bag of agricultural produce stored in Arya.ag’s digitally enabled warehouse into an electronic balance. An automated decision engine at Arya.ag provides finance against this electronic balance in a few clicks.

According to the RBI report, about 40 percent of Indian farmers are covered by formal credit. The company said that Arya.ag's Insta Loan will address the pertinent problem of lack of access to adequate finance for Indian farmers.

“The scope of agritech players in enhancing the agri-chain ecosystem in India is enormous. At Arya.ag our focus is to empower the country’s farmers by maximizing 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. Instant loan are available in most sectors but this is the first time that farmers will have easy and immediate loans at their disposal”, said, Chattanathan Devarajan, Co-Founder of Arya.ag.

Noida-based Arya.ag established in 1982, Arya helps farmers, aggregators, farmer producer organizations, food processors, and end-user corporates to avoid post-harvest losses.Arya.ag is a profitable business model with a storage capacity of over 5.0 million tonnes across 5,500 warehouses across 21 Indian states.

Arya.ag aims to disburse Rs 1,000 crore from the Insta-loan product in FY23.