Agri-tech company Fasal on Thursday announced its partnership with State Bank of India (SBI), aimed to provide farmers with easy access to capital. The partnership will help solve cash-flow constraints during key cycles in farming by providing quick, easy, and collateral-free loans at very competitive rates. This ties into Fasal’s larger objective of solving the many challenges across the entire horticulture value chain, thereby paving the way for India’s horticultural transformation.
Fasal has partnered with the State Bank of India (SBI) to provide farmers with easy access to capital in the form of quick, easy, and collateral-free loans at competitive rates. The loans will be deployed under the Kisan Credit Card scheme and be initially offered in four Indian states, expanding to more regions in the future. The move coincides with the Indian government’s increased agriculture credit target of Rs 20 lakh crore ($267bn) for FY24.