Agritech Platform Safal Fasal Launched in India to Improve Farmer Livelihoods
Seed-to-market initiative by BPC to strengthen India
In a bid to resolve farmer woes and create supply chain efficiency in
agriculture, global fintech solution provider BPC has launched Safal Fasal (www.safalfasalonline.in),
a digital platform that gives small and marginal farmers greater access to
finance, technology, markets, and risk-management tools. The launch event in Lucknow
Company Officials Lighting Ceremonious Lamp
From solving farmer credit issues, to offering inventory management systems, financing agricultural equipment, know-how to reduce crop losses, and mapping quality storage facilities, Safal Fasal is aimed at directly impacting farmer income through technology. Leading Indian creditors, agritech companies, and relevant industry players have also partnered this initiative by BPC to tackle
Safal Fasal Launch in Lucknow- Debarshi Dutta, EVP Global Head Marketplace for BPC Banking Technologies, Safal Fasal, Anatoly Loginov, Chairman BPC Banking Technologies, S K Roy, Nabard, Dwarika Singh, ISED, Satyender Goel, India Health Link.
The Safal Fasal Marketplace connects buyers and sellers and improves the income of the farmer by enabling access to multiple buyers, multiple input companies at reduced prices, credit at affordable rates, financial services lifting them into the real economy and access to advisory services for a more efficient and sustainable crop productivity. Buyers benefit from access to a large and varied segment of credible and vetted farmers and their produce, ease of procurement and planning in a fragmented market, better logistics and tracing and therefore a better and more balanced price with reduced risk.
This scalable digital innovation will empower farmers by connecting them with credible financial and business stakeholders in the value chain. Safal Fasal will look at fixing the broken Agri Value Chain by bridging the gaps between various stakeholders starting from farmers, FPOs, FPCs, input providers, produce-buyer financial institutions, insurance companies, logistics providers, shared equipment providers, knowledge partners, advisory services and other relevant value added-service providers.
Discussing the company’s mission, Debarshi Dutta, Executive Vice President & Global Head Marketplace for BPC Banking Technologies, said, “We are focused on collaborating with the existing area specific stakeholders and bringing in technological interventions to help better and efficient delivery value chain, through proper transparency and traceability. This will help in taking the benefits to the last mile and increase the income of the farmers and other marketplace stakeholders by 15-20%. With the digital footprints, lending to farmers or MSME will be easier for the financial institutions and at a better price point. This will be a savings in itself.”
Mr. S K Roy, DGM, NABARD said in his keynote address, “There is a strong need of sustainable, smart and climate adopting technology to improve agriculture productivity. The initiatives like Safal Fasal will in bringing technology in the hands of farmers and increase their income."
“Nabard extends full support to BPC in this initiative and invites them to introduce the facility in more states,” Mr. Roy added.
As per statistics, Gross Value Added by Agriculture sector (agriculture, forestry and fishing) in the Indian economy is estimated at INR 17.7 lakh crores (approx. US$ 274 billion) for the financial year 2017-18. Agriculture accounts for a substantial part of GDP (16%) and employment (49%). Moreover, 86% of
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