Netafim Agricultural Financing Agency (NAFA) operates in a niche area of financing micro irrigations systems and supporting MSMEs in the value chain. Its entire loan book qualifies for priority sector lending (PSL) status. In spite of the challenging times in the last 5 years, the company’s loan book has grown at 33% CAGR to ₹2.75 billion and it has cumulatively disbursed more than ₹ 9.5 billion of loans so far.
10,000 FARMERS SUPPORTED
NAFA has been working with farmers in water-deficit states like Maharashtra, Karnataka, Chhattisgarh, Madhya Pradesh, Tamil Nadu, Kerala and Gujarat in support of the government’s initiative of increasing the area covered under drip irrigation by about 150,000 acres. Prabhat Chaturvedi, CEO, says the company has directly supported more than 10,000 farmers by providing customized financing solutions for adopting drip irrigation practices. “We have worked closely with 40 sugar mills across Maharashtra and Karnataka to facilitate more than 5000 sugarcane farmers for installing drip irrigation systems – again by providing customized financing solutions,” says he.
3 MAJOR CONCERNS
NAFA enables the farming community to practice sustainable agriculture and helps to increase farmer income by providing access to timely and adequate finance. Chaturvedi explains that the company operates at the cusp of 3 major concerns faced by Indian farmers - need to develop climate-resilient agriculture despite increasing water-stress, need to increase farmers’ income and need to increase production/productivity of major crops to help in feeding the rising population.
DIGITAL TOUCHPOINTS
This story is from the May 2020 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 2020 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Finance gears up for festivities
BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:
Non-cash transactions can touch a phenomenal level by 2028
Capgemini Research Institute’s World Payments Report 2025 highlights the era of account-to-account an instant payments:
The Confluence of Artificial Intelligence and Cybersecurity: AI as the Game Changer
In an increasingly interconnected world, safeguarding our digital assets has become paramount. Enter the dynamic duo: Cyber security and Artificial Intelligence (AI).
A new trinity in digital lending space
Three platforms in the lending space are poised to change the way lenders offer credit and borrowers access funds in India:
Finance gears up for festivities
BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:
Small MFI, International Engagements
Mitrata Inclusive Financial Services in the midst of transformation growth
MFIs: Big Impact Big Changes,
Even as MFIs are fueling economic growth for the underprivileged, what is interesting is that they are transforming themselves in areas like HR, technology, funding, leadership, collections, and more. Banking Frontiers presents the initiatives and initiatives at 9 such organizations:
Climate Risk Forum for CROS
Excerpts from a discussion on shaping the future of climate change resilience in India:
Seamless Supply Chain Finance
Deep insights emerge from this fireside chat at NBFC's Tomorrow Conclave.
Star Health sees strong demand from the IT sector
Biju Menon, Chief Business Officer at Star Health Insurance, looks at the evolution of employee health insurance from multiple perspectives:
