Ag Tech News

Banks and Companies Lined Up Agri-tech Initiatives

Several banks have launched initiatives on Agri-tech including Bank of Baroda and ICICI Bank. State Bank of India is already providing a host of agri-related services to farmers. Banks are increasingly providing features and rolling out these additional services through the rural branch network and raising awareness of how to use many of these features through the smart phone.

For instance, ICICI Bank recently launched ‘Mera iMobile’ – a mobile app based service that provides as much as 135 services for rural customers. The list of services include financial products and agriculture related information like mandi prices for 230 crop varieties across 460 mandis. It also displays weather across various talukas that assist farmers to sow and reap different crops.

Smart phone based app and information providers are increasingly using the digital platforms to spread awareness and rural agri-tech solutions quickly across the country.

Banks are offering app-based solutions to farmers on their smart phones and these solutions assist farmers in various stages of the agriculture. Information on crop prices, sowing season, harvesting techniques are all forming part of the new information push on digital applications. Farmers are also able to get information about weather, and when and where to sell their produce.

Private companies are also increasingly providing such solutions, among them RML Agtech. Says Rajiv Tevitya, Managing Partner & CEO, RML AgTech: “Today in our country, there is a dramatic socio-economic change with more people connected digitally and data revolution taking place. With more than 50 per cent of the country’s population involved in farm-related activities today, tying up with banks paves the way to showcase AgTech to Indian farmers and shift them towards data-driven precision farming.”

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