The card, co-branded with Paytm Bank, will facilitate a cost reduction of seed fertilizers and also enable farmers to avail better prices for the sale of their farm output
Mumbai, 22nd February, 2021: India’s agriculture sector is one of the largest in the world. However, farmers often face several challenges including lack of access to credit, farming products, and marketplaces, resulting in lower income. To address this issue and help farmers improve their net income, Unnati, a tech-driven agri input and agri produce selling startup, has launched a first-of-its-kind digitally integrated card linked to its platform and includes the purchase of seeds, fertilizers, and pesticides. Co-branded with Paytm Bank, the card will also enable farmers to access a larger market to obtain their farm inputs.
The newly launched card will help farmers boost their net income through both reductions of seed fertilizer cost and enabling them to get better rates for the sale of farm output produced. Apart from this, the card will also allow farmers to get real-time updates in every aspect including the pay-outs to avail better credit rates flexibly and seamlessly.
Priced at INR 250 that farmers need to pay as an upfront, one-time charge as mandated by the RBI, the card will enable farmers to utilize the other services free of cost. Farmers will also be able to recoup this within the first 2 months of issuing the card in terms of the benefits they receive. The card will drive a saving behavior amongst farmers, help them make informed decisions for enhanced farming methods, and yield outputs that are better in quality and quantity. This will prevent farmers from falling into debt traps and facilitate better agriculture in the country.
Speaking on the launch of the new card, Mr. Ashok Prasad, Co-founder of Unnati said, “The agriculture sector has seen remarkable growth over the years and yet farmers continue to face day-to-day challenges in several aspects. Unnati is committed to empowering the country’s farmers by leveraging cutting-edge technology and providing them with best-in-class services and products that will cater to their needs. We are proud to announce that Unnati is the first agri-tech startup to launch this kind of product as no other brand has launched anything that is so tightly integrated into a digital platform that also enables transactions yet. Our newly launched cards are aimed at enabling farmers to avail top-quality products, improve their marketplace access, and boost their overall income. We will be introducing more such products soon.”
Currently present in 4 states, the up-and-coming agri-tech platform plans to scale its operations to all major states across the country and reach 1 million farmers through its services by the end of this year.