Crop loan solutions for Small & Marginal farmers with Emerging Technologies
Today, India ranks second international in farm output. As India is a farming country and over 60% of the population depends on agriculture for his or her livelihood. Although we live in urban areas, we may not realize the importance of agriculture, but this fact is not new: agriculture is the main source of income for most of our population. India’s population is developing quicker than its capacity to supply rice and wheat. The required degree of funding for the improvement of marketing, storage, and cold storage infrastructure is predicted to be huge. The country produces innumerable vegetation starting from medicinal to cereal vegetation. These commodities are used for diverse functions from human consumption, in industries, for animal feed, etc.
Agriculture is the most important sector in India, but farmers face many difficulties in obtaining the best seeds to purchase the best fertilizers and machinery. To help farmers with finance, lenders provide crop loans. Crop loans are short-term advance payments provided by banks and cooperatives to farmers. The loan amount can be used to purchase upgraded seeds, fertilizers, machinery, etc. Since agriculture is a priority sector, plant loans are granted. Usually, the loan is paid in one lump sum after harvest.
SafePe brings innovative ecosystem and payment network to exchange services in domains such as Agriculture productivity, Utility services, Travel solutions by using Blockchain and emerging technologies
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