End-to-End
Digitalisation of Cattle Finance

Mission


Unlocking frictionless farm credit for 75 million dairy farmers in India through digitalisation of the cattle financing processes.



Reduced Turnaround Time (TAT)



Paperless
process



Reduced
Costs

India is the world’s leading producer of milk and continues to register a healthy annual growth year-on-year. Farmers depend on livestock for this milk production, and for other agricultural activities. 

As such, they require access to finance to purchase livestock – and the RBIH Cattle Financing project aims to leverage technology to digitalise the process end-to-end.

Key Issues Identified From
Field Study

Paper-based Process

Manual, time-consuming application process

High Turnaround Time (TAT)

Availing institutional credit can take up to three weeks

Insufficient data

Lack of credit scores and inaccurate data result in inefficient underwriting

Proposed Solution

The project aims for a paperless loan application process that utilises milk collection data from cooperative societies. The loan applications will be facilitated by a business rules engine (BRE).

The process will be as follows:

Farmer applies for a cattle loan online / via BC mode / bank branch / milk society outlet

 

Applicant is verified through e-KYC via micro ATM

Bank fetches farmer’s milk pouring data via an API integration with the milk society’s ERP

 

Applicant’s milk pouring data, payments data, milk society membership certificate etc are captured

Applicant’s milk pouring data, payments data, milk society membership certificate etc are captured

 

 

 

Problem Statement / Problem identified:

In India, women often face barriers to saving money due to various reasons such as lack of financial literacy, limited access to banking services, and complex user interfaces of existing savings applications. These challenges make it difficult for women to save money effectively and efficiently.

Proposed Project Phase:

We propose the implementation of an improved UI/UX for the Frictionless Savings App. Our primary objective is to create a user-friendly and intuitive interface tailored to the specific savings needs and preferences of women. By simplifying the savings process and incorporating features that promote financial literacy and empowerment, we aim to encourage regular saving habits among women.

Conclusion:

The Frictionless Savings Product for Women project strives to impact and enhance women’s saving practices in India. By designing an intuitive and women-friendly user experience, we aim to provide women with a technological means to take more control over their financial futures and help them achieve their family’s long-term financial goals.

Partners

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