Pragati card will reward farmers for eco-conscious practices
India’s half a million farmers will benefit from a multi wallet instrument that is being arranged with Mastercard’s global expertise, and the reach of local BharatRohan as well as Bengalore-headquartered Obopay.
BharatRohan, a pioneer in precision agriculture from Gurgaon, has launched the BharatRohan Pragati card in collaboration with Obopay and Mastercard, a specialized multi wallet instrument that has both open loop and close loop capabilities by 2027 https://www.nseindia.com/.
Through this collaboration, BharatRohan is also exploring joining Mastercard Community Pass digital platform to enable offtake solutions for the farmers, with the proceeds from such produce sale getting directly credited to the BharatRohan Pragati card. This will also enable access to supply chain financing solution for offtake transactions via the platform https://www.bseindia.com/.
“BharatRohan is committed to promoting sustainable agriculture,” said Amandeep Panwar, CEO & Co-founder of BharatRohan.
“Our Pragati card will reward farmers for adopting eco-conscious practices like Integrated Crop Management and using our CropAssure® service, which uses drones to monitor crops, providing insights that help farmers make data-driven decisions for sustainable farm management.
“By reducing chemical use, utilizing bio-fertilizers, and taking other sustainable actions, farmers will be able to earn redeemable points for future input costs, further encouraging sustainable practices,” he said on 28 Nov.
Designed to meet the unique needs of the Indian agricultural sector, this card enables access to targeted credit for farmers, streamlined purchases for essential inputs, seamless digital payments in offline areas, and incentives on the use of advanced technologies like drones for sustainable farming practices.
The Pragati card has an underlying prepaid wallet that enables farmers to transact seamlessly at any merchant outlet (physical or digital) that accepts Mastercard payments.
The card will allow farmers to purchase essential agricultural inputs like seeds, biological inputs, fertilizers, pesticides, and services like drone-based crop monitoring and spraying all through a secure and easy-to-use platform. Through a straightforward, KYC-verified onboarding process, farmers will also have an option in future to gain access to season-specific loans ranging from Rs.5,000 to Rs.50,000, providing crucial funds for each stage of their crop cycle (subject to underwriting norms of the lender).
Transparency in financial transactions is another cornerstone of the BharatRohan Pragati card. Lenders will be able to control loan utilization for identified purposes, streamlining the underwriting process and building lender confidence.
By offering this transparency, BharatRohan aims to simplify access to credit, allowing farmers to secure necessary funds faster while reducing risks for financial institutions. This feature supports BharatRohan’s broader goal of enhancing credit access for farmers by enabling a clear, traceable record of funds used for specific agricultural activities.
Additionally, this collaboration will open avenues for farmers to participate in carbon credit programs, enabling them to earn revenue for low methane emission techniques like Alternate Wetting and Drying (AWD) in paddy cultivation. Farmers will be able to generate carbon credits, providing new income streams aligned with BharatRohan’s sustainability focus.
BharatRohan in partnership with Obopay, which is an RBI licensed entity, will ensure a smooth and reliable experience for the BharatRohan Pragati card users, from onboarding and KYC verification to transaction assistance and loan management support. This collaboration guarantees a high standard of customer service, enabling farmers to confidently handle their finances and reinvest in advanced farming practices.
BharatRohan, a pioneering Ag-tech firm in India, uses advanced technologies like Hyperspectral Imaging and drone-based monitoring, BharatRohan offers comprehensive agricultural services through its flagship products: CropAssure®, SourceAssure®, and SeedAssure®. Supporting over 50,000 farmers across 200,000 acres, by integrating technology with sustainable practices, BharatRohan is not only enhancing farmers’ profitability but also contributing to the long-term security of food supply chains in India.
OBOPAY help Corporates and Financial Institutions create new journeys to embed financial transactions and deliver a seamless experience for their customers. Fiinews.com
