Agri-focused IFFCO Kisan Finance Ltd. and Ooty-based Lawrencedale Agro Processing (LEAF) have partnered strategically to offer organised financial products and services to 50,000 marginalised farmers in Tamil Nadu, Andhra Pradesh, and Karnataka.
In accordance with the agreement, LEAF has developed a methodology that allows for the controlled distribution of agricultural inputs, including seeds, crop nutrition, and crop protection products, to these marginalized farmers.
Promoted by the Indian Farmers Fertilizer Cooperative Ltd., IFFCO Kisan Financial is a non-banking finance organization, and LEAF is a leading provider of full-stack agriculture technology services. The process of ensuring organized financial products is difficult because there is no documented trail of transactions, according to Palat Vijayaraghavan, founder and CEO of LEAF.
"Although there are various ways for farmers to obtain financing, our methodology will make sure that the money is being used for agriculture, which is what it was intended for," said Vijayaraghavan.
Through our technologically advanced platform, LEAF Farmer Network (LFN), which is powered by Mastercard and brings in total visibility and qualifies the farmers for organized financial services, we are promoting transparency, the man stated.
By combining organized financial access with scientific farming advice, LEAF-IFFCO Kisan Finance will equip marginalized farmers with farm inputs and provide ongoing support as they work to produce the finest harvest possible.
Ranjan Sharma, MD of IFFCO Kisan Finance, stated, "We would support LEAF's efforts in developing customized solutions to ensure that the marginalized farmers achieve sustained livelihood growth.”
About IFFCO Kisan Finance
IFFCO Kisan Finance Limited (formerly Kisan Rural Finance Limited) is a company promoted by Indian Farmers Fertiliser Cooperative Limited (IFFCO), a one-of-a-kind organization that has been serving farmers for more than a half-century and produces over 81 lac MT of fertilizer per year with a turnover of Rs 27,852 crores. It aims to bring financial inclusion to the last mile by giving rural residents access to financial services and assisting them in realizing their dreams.
