Life Sciences firm Bayer on weekday said that it has collaborated with personal sector bank investor Axis Bank for its better life farming (BLF) initiative in India to supply increased and holistic money solutions to small farmers and rural farming communities. Bayer stated that through this partnership, the Axis Bank can supply end-to-end money solutions and services like affordably priced loans, deposits, withdrawals, and payments.
The digital money solutions and threshold delivery of those services are going to be a bank’s giving to confirm convenient and hassle-free transactions. These solutions are going to be offered through Bayer’s BLF centers, closely-held and operated either by the farmer producer organization (FPO), federation, agri-graduate, or an area farmer or entrepreneurs. It was launched globally in April 2018, BLF is an international, multi-stakeholder alliance that works with partners across the agri-value chain to support small farmers in developing economies to extend crop yield and farm incomes. In the country, every BLF center consists of a grouping of five hundred farmers from 5-6 near villages wherever agri-entrepreneur provides smallholders, farmers, access to agri-inputs, crop consultation, irrigation best practices.
Affordable farm credit, farmer finance, and digital banking solutions ranking as area unit high priorities for rural farming communities. The company said that the partnership with the Axis Bank can facilitate deliver last-mile connectivity and build a lot of comprehensive Agri system, wherever all small farming wants like agri-inputs, agri-advisory, and data area unit taken care of under one roof.
The Axis bank MD and CEO Amitabh Chaudary mentioned that the bank can invest in providing end-to-end money solutions for the agricultural and rural population, that are designed on the backbone of sound digital and technology capabilities to deliver secure money product and seamless services. The partnership helps to attain multiple goals together with promoting rural entrepreneurship and delivering holistic solutions under one roof at the threshold of the agricultural community. Currently, over one hundred fifty BLF centers area units are operational in the Asian country in Uttar Pradesh, Jharkhand, and Bihar with plans to expand to the province of West Bengal, Odisha, Madhya Pradesh, Maharashtra, and Rajasthan.
