Dvara E-Dairy Solutions Pvt Ltd, an agri-fintech company, has partnered with Jana Small Finance Bank (Jana SFB) to help small dairy farmers.
Dvara E-Dairy hopes to use digital technology to assist small and medium dairy farmers with financial and livestock management solutions.
"These days, a cattle loan is commonly referred to as a 'personal loan to a dairy farmer.' We hope to increase access to a range of financial services for millions of unbanked and underbanked small dairy farmers through our strategic relationship with Jana SFB," said Ravi KA, founder and CEO of Dvara E-Dairy Solutions.
Ravi also said, “Jana SFB has a large branch network in India's rural and agricultural areas. We intend to change the credit and underwriting process for cattle loans by incorporating modern veterinary research and practices, using new-age technology, and leveraging Jana SFB's knowledge in the allied agricultural sector.”
"Our in-house product, Surabhi e-Tag, accurately identifies cattle based on muzzle identity. Similarly, the Surabhi Score, which is based on digital evaluation, aids in the financing of cow loans based on dairy operations and customised cattle management guidance. This helps dairy farmers enhance their income and meet their financial goals," Ravi remarked.
"We think that dairy is a critical industry that not only employs millions of people in rural areas but also serves to the economy." Our goal is to close the financial gap in this ecosystem by delivering the necessary funds in a safe and convenient manner," said Sudhir Madhavan, Head of Retail Financial Services, Jana SFB.
Last month in a similar setup, Stellapps, a prominent dairy-tech firm, has partnered with Airtel Payments Bank to allow cashless payments to small dairy producers and help the country achieve digital financial inclusion. Through its mooPay FinTech Platform, Stellapps provides comprehensive financial management solutions across the dairy value chain, including particular programs aimed to enhance financial inclusion for dairy producers.
