Smart-Risk, an ICT Solution for Credit Risk Mitigation in Farm Loans & Crop-Insurance.

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With SmartRisk, CropIn brings in the most important and valuable players of the agri-ecosystem, by making them more accessible to the farmer community. SmartRisk will benefit the Government in our sincere effort to contribute to the Pradhan Mantri Fasal Bima Yojana where the emphasis is on the one nation, one scheme type crop insurance – be it for floods or droughts. Not just the Government, but various

other allied Central & State Government bodies, private – public banks, MFC’s and NBFC’s now have a robust technology to rely on. Agriculture insurance risk handling, will now be simpler and smarter with SmartRisk,” said Chittaranjan Jena, Chief Technology Officer, CropIn Technology.

“We already are working with one of India’s leading private sector bank in the state of Bihar and Madhya Pradesh in India and the results are paying off. While currently, only few hundred thousand farmers are now benefitting from transparent loans to buy seeds, fertilizers, farm machinery and allied. Also, there are many others cooperatives and Indian state governments which are on the cusp to benefit from crop insurance during this year’s sowing cycle. At the end, we keep a farmer at the forefront of everything we do, by helping him increase his yield per acre and ensuring banks and other Govt financial institutions, do not suffer losses due to unplanned bad loans and write-offs,” said Siddhartha Choudhary, Chief Business Officer, CropIn Technology.

With 3 existing cutting edge products such as SmartFarm which ensures holistic farm management, SmartSales which benefits agro-input companies and mWarehouse which defines norms of food traceability to the last mile, SmartRisk is now directly aiming to benefit over twenty-five million Indian farmers through banking and insurance partners under (Non-Lending Technical Assistance – NLTA) by working in sync with the Government (State and Central), National Agriculture Insurance Scheme (NAIS) and various business consulting forums such as assocham and FICCI.

Source: Outlook, The News Scroll, 3 Feb 2017


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