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Banks are now increasingly looking at leveraging agricultural technology to facilitate rural lending.
They have even partnered agri-tech companies, which are creating a credible database on farmer behaviour, helping agriculturists get the best prices for selling their produce, and enabling satellite mapping.
Rural lending has, for long, been a neglected area because of it being a high-cost and low-margin business. Traditionally, loans were disbursed after due assessment of farm land.
This often required physical visits - an expensive affair for banks and financial institutions. Agri-tech solutions, however, are meant to reduce this and make it efficient and cost-effective.
YES Bank has
