‘True cattle loan’ offered digitally for small dairy farmers in Karnataka, TN
Dvara E-Dairy Solutions Pvt. Ltd. has launched the ‘Dvara Surabhi Loan,’ a ‘True cattle loan’ given digitally in collaboration with Jana Small Finance Bank. The goal is to make it easier for small dairy farmers in Tamil Nadu and Karnataka states to access loans.
The Dvara Surabhi Loan is a loan made especially for dairy farmers to buy and take care of cattle. The ‘Surabhi Score,’ which is a digital assessment of how well the cattle are managed based on a number of factors, and the farmer’s credit score are both used to figure out how much the farmer’s cash flow depends on dairy.
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This lowers the risk and makes sure the loan goes to the ‘right borrower.’ The loan amounts range from ₹30,000 to ₹1,50,000, with ₹80,000 being the average. In a statement, the company said that the new loan product will make it much easier for small and medium-sized dairy farmers to get the money they need to improve their lives and make more money.
‘Surabhi Loan has been started in a few places, and we are happy with how things are going. 30% of our customers are first-time borrowers, and 100% of their digital payments are on time. Ravi K.A., Founder & CEO, of Dvara E-Dairy Solutions, said,’ We have now expanded our service to Tamil Nadu and Karnataka, and we plan to expand gradually to other parts of the country.’
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The goal of the Dvara E-Dairy solution is to bring together dairy farmers, financial services institutions, and companies in the value chain to help them make better decisions. The company said small and medium-sized dairy farmers can use Dvara E-Surabhi Dairy’s platform to manage their finances and cattle.