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Satellite imagery help banks assess farmers' income, repayment capacity

Economic TimesEconomic Times · 5d
Satellite imagery help banks assess farmers' income, repayment capacity

The government of Uttar Pradesh is collaborating with the International Finance Corporation to provide APIs of the state's land records and farm boundaries to SatSure and other companies under the AgriStack initiative. SatSure is a Bengaluru-based space tech company that uses satellite imagery and AI algorithms to provide risk assessments and insights on crop health and productivity. This information helps banks assess a farmer's income and loan repayment capacity. Another company, Dhruva Space, has announced AstraView, a commercial satellite imagery service that provides high-resolution insights for operational efficiency and environmental tracking. Geospatial data is increasingly valuable across industries such as banking, insurance, and agriculture.

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