Together, they plan to develop a solution to provide a payment card for Indian farmers, the Kisan Card.
The Kisan Card serves as a catalyst for expanding and introducing banking services to remote and last-mile rural areas, as well as encouraging and promoting farmer-focused government programmes. It can be used in conjunction with digital payments, lending, and banking in a box along with other features geared toward rural users.
The association will serve to be the financial engine for Virenxias’ entire Pan-India Rural Reboot program and provide platform-based financing for farmers. This will be powered by Neokreds’ engine, backed by data security, blockchain technology and integrated with governmental bodies, banks, financial Institutions, NBFCs (non-banking financial company) and development finance agencies. All business accounts, farmer personal accounts, insurance and credit appraisals will operate on this tech platform, to solve the financial crisis of farmers.
When run on Virenxia’s E4 (Earths Enablement and Empowerment through Enterprise) platform, this will enable Virenxia to facilitate and assist every step in the farmer’s journey, providing agri inputs, technology solutions, and the ability to offer a yield guarantee and an income guarantee for farmers, handling of NPAs (non-performing assets), as well as implementing smart contracts and AgTech solutions.
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