for providing easy access to affordable financial services to the farmers
Initiative Name: Farm Infinity or farm
Organization: Farmeasy Technologies Pvt. Ltd.
App Link: https://tinyurl.com/FarmInfinity-beta
Location: Assam, India
Farm Infinity was initiated with the objective to resolve the lack of legitimate financial services for small and marginal farmers. The mobile application while providing farmers with a credit model to determine their financial capability, allows for access to cash credit, insurance, and loans without deepening on loansharks charing 10% rate of interest on the service through their data driven technology capturing over 80 parameters such as — KYC, total cultivable farmland, etc. Moreover, the rate of interest is 7% p.a. as per Govt. market standard for KCC (Kisan Credit Card) loans and 12% p.a. for other loans.
The impact of Farmeasy Technologies initiative is assessed by the number of farmers using the platform in addition to the number of financial services availed as loans or insurance.