Context:
As part of the AgriStack initiative, for rolling out digital farm lending in Uttar Pradesh for its eight crore farmers, the state government is currently working with the International Finance Corporation for providing APIs of the state’s land records and farm boundaries to SatSure and a couple of other companies.
Goal
• The International Finance Corporation is working towards developing a roadmap for direct digital farm lending to the mixed eight crore farmers.
• Land records and farm boundary APIs provide online lending processes.
SatSure in Farm Lending
SatSure is a space tech-based Bangalore company that uses satellite-based risk scoring to generate farm-as-well-as village-level reports.
• Uses AI algorithms to analyze satellite imagery and identifying crop types.
• Keeping track of changes in farm health and productivity for correlating with the climatic variables.
• Provides loan backing for banking institutions to measure farmers’ income and repayment capacity.
Partnerships
• Reserve Bank of India Innovation Hub, credit rating agencies, and other top private banks.
Other Satellite Technology Companies
• Dhruva Space – AstraView: A commerci
