Axis Bank to Provide Affordable Loans Through Bayer’s Better Life Farming Initiative

Axis Bank joined Bayer’s Better Life Farming initiative in India to provide holistic financial solutions to smallholder farmers and rural farming communities.

Through this partnership, Axis Bank will offer a wide range of financial solutions and services such as affordable loans, deposits, withdrawals and payments.

Digital financial solutions and home delivery of these services will be part of the bank’s offering to ensure convenient and hassle-free transactions.

These solutions will be offered through Bayer’s Better Life Farming centers, which are owned and managed by either an agricultural producer organization, a federation, an agro-graduate or a local farmer / entrepreneur.

Launched globally in April 2018, the BLF alliance has global partners including Bayer with its expertise in seeds, crop protection and agronomy; IFC, the development finance institution for impact assessment; and Netafim for drip irrigation technologies.

Local partners

In India, the BLF alliance works with other local partners, including Yara Fertilizers for soil and nutrient management; DeHaat, AgriBazaar and Big Basket as buyers; and Tata Trusts for improving rural livelihoods and promoting self-sustaining agro-entrepreneurship.

BLF has set up small centers across villages to offer farming advice to communities. Each BLF center consists of a group of 500 farmers from five to six neighboring villages, where an agro-entrepreneur provides smallholder farmers with access to agricultural inputs, crop advice, irrigation best practices and new technologies. .

Dr Narain, Managing Director and CEO of Bayer CropScience, said affordable farm credit, farmer finance and digital banking solutions are high priorities for rural farming communities. Bayer’s partnership with Axis Bank will help provide last mile connectivity and create a more inclusive agricultural ecosystem, he said.

Amitabh Chaudhry, Managing Director and CEO of Axis Bank, said the partnership achieves several goals, including promoting rural entrepreneurship and delivering holistic financial solutions under one roof at the doorstep of the rural community.

The BLF initiative has led to a doubling of crop yields and a tripling of farm incomes among participating farmers in India.

Currently, more than 150 BLF centers are operational in Uttar Pradesh, Jharkhand and Bihar, with plans to expand to West Bengal, Odisha, Madhya Pradesh, Maharashtra and Rajasthan.

Previous Second update of the dunning check: the payments made to you are back in a new compromise, but direct state aid is removed. Here is the last one.
Next British unit of Punjab National Bank wins legal battle over unpaid loans