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NABARD, RBI Join Hands To Ease Digital Agri Lending

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NABARD, RBI Join Hands To Ease Digital Agri Lending

The National Bank for Agriculture and Rural Development (NABARD) and the Reserve Bank of India's subsidiary RBIH have partnered to speed up agricultural loan processing. NABARD will integrate its e-KCC loan origination system portal with RBIH's Public Tech Platform for Frictionless Credit (PTPFC). This collaboration aims to reduce loan approval time from three to four weeks to just five minutes for India's farmers. The integration will provide cooperative banks and rural banks access to various services like digital land records, satellite data, KYC, credit history, and transliteration for more effective credit underwriting. The goal is to scale the digital lending platform to cover around 5 crore KCC loans nationwide.

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