Rural Fintech Startup Jai Kisan Joins Hands With Karnataka Vikas Grameen Bank
Jai Kisan’s new financial services platform, coupled with the reach of the Bank is expected to deliver significant impact over the course of this partnership to rural Indians in the state of Karnataka.
27thJanuary, 2021:Jai Kisan has partnered with Karnataka Vikas Grameen Bank to expand its capability to provide access to low priced credit and other financial services to rural customers. The MOU marks the start of a long-term partnership with the bank to create grassroot level change in the state of Karnataka at over 2,000 villages through the bank’s 600+ branches where Jai Kisan has a captive farmer base of more than 1,00,000 farmers through its network.
Jai Kisan will be one of the first few fintech platforms to fully integrate with the Bank empowering a wide range of rural individuals and enterprises including – Farmers and Farmer Groups, Women Self Help Groups and rural MSMEs with low-cost financial services.
Jai Kisan works with multiple key ecosystem and value chain players in Karnataka, creating substantial social impact in the state – including but not limited to farmer producer organizations, farmer co-operatives and foundations to empower them in their mission to improve rural livelihood and fuel development.
Jai Kisan’s new age financial services platform, coupled with the reach of the Bank is expected to deliver significant impact over the course of this partnership to rural Indians in the state of Karnataka. Jai Kisan has been able to leverage its tech platform over the course of its journey to be able to reach some of the remotest pockets in the country. In April and May ‘20, when the entire country was locked down, Jai Kisan worked closely with its existing partner Omniactive Health Technologies to provide pre-harvest credit to its farmer network, impacting over 9,000 small and marginal farmers in Karnataka.
“We are very excited to partner with KVGB to bring low-cost financial services to rural Indians across the state. Karnataka has been one of our most progressive states with a thriving agritech ecosystem and this partnership will help us significantly increase our reach and impact by catering the unserved in the deepest pockets of the state.” – commented Arjun Ahluwalia, Founder and CEO of Jai Kisan.
Bringing the capabilities of a PSU, KVG Bank brings significant experience and a broad suite of capabilities including low-cost capital, thereby adding a key feather to Jai Kisan’s cap. Jai Kisan works with several Tier 1 banks, NBFCs and digital lenders. Jai Kisan works with over 550+ large corporates, agri-tech startups, rural SMEs and well governed farmer cooperatives and societies to provide its suite of financial services with a digital first approach, to their network of farmers and small and micro businesses.