Arya crosses Rs 200 crore loan book mark
India’s leading post-harvest Agritech player Arya through its digital financial solutions company, Aryadhan has crossed the book size of Rs. 200 crores. In its mission to create an equitable value chain in agriculture through sustainable financial & market linkages, the company has benefited farmers, FPOs and micro enterprises in smaller markets. From Rs. 27 Crores in March’19, the company has seen a jump of 640%. In FY 21 Aryadhan disbursed an amount of Rs. 280 Crores.
Chattanathan, Managing Director for Aryadhan, said it is one of our primary goals to foster and cultivate India’s post-harvest space with newer thought and technology, especially in the primary and secondary markets. “This will enable the farmer and the farmer producer organizations to realize better values and for the micro-enterprises easy access to finance. We hope to be the largest lender in the FPC space and we believe that we have made a great beginning in this direction,” he said. “With a book of over Rs. 200 crore, we believe we are closer to the goal of becoming the largest NBFC lender in the FPC post-harvest space. COVID has brought with it unprecedented times, and we are truly grateful to various state governments for allowing and enabling us to work smoothly through the lockdowns and the curfews in our endeavour to serve farmers better.
Prasanna Rao, Co-founder & CEO of Arya said these are extraordinary times that we are living in that makes it more of a challenge for small-scale NBFCs to raise resources. “We are elated that we were able to achieve this feat. Out of the total, 50% of loans have been to farmers or FPOs and the remaining half to small traders and produce aggregators. I strongly believe that the future of warehousing lies in creating storage-cum-financing solutions “closer to the farm gate” and we will continue to work in this direction.”
Also Read: Indian Armed Forces launch CO-JEET to help fight COVID-19
Availability of finance for their working capital requirements is a key challenge felt by small farmers and their organisations. This became more a difficulty during the pandemic and the subsequent lockdowns and migrant exodus. The second wave of the pandemic added to the difficulty. To combat this situation, Arya’s Aryadhan and its technological prowess were leveraged to facilitate seamless availability of post-harvest credit to farmers and FPOs. The result is very much visible in the business numbers of the company.
Pingback: Ether sets new record high, breaks past $3,000 | The Plunge Daily
Pingback: Arya Collateral Warehousing Services on profits in a Indian Agri-Market