NABARD Buys 10% Stake in Agri-Fintech Startup to Make Agricultural Loans Easier

Key Highlights:

• NABARD buys 10% stake in 24x7 Moneyworks Consulting.

• Startup runs eKCC, a digital agri-loan disbursement platform.

• The platform integrates Aadhaar, e-KYC, land records, and core banking.

• The plan is to expand eKCC nationwide to provide faster rural credit access.

• NABARD also developed AIFIS for subsidy claim management.

The National Bank for Agriculture and Rural Development (NABARD) has taken a major step to make agricultural loans faster and easier. The bank has bought a 10% equity stake in 24x7 Moneyworks Consulting Private Limited, an agri-fintech startup based in Vadodara.

This is NABARD’s first-ever investment in a bootstrapped startup, showing its interest in supporting homegrown innovation. The announcement was made through an official press note released by NABARD.

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A Growing Startup Supported by NABARD

24x7 Moneyworks Consulting Pvt Ltd was founded in 2018. It is a bootstrapped startup that runs a digital lending platform called ‘eKisanCredit’ (eKCC). This platform helps cooperative banks, primary agricultural credit societies (PACS), and regional rural banks in disbursing loans digitally.

With NABARD’s support, the startup aims to build a stronger digital credit system for farmers in rural areas.

How eKCC Works

The eKCC platform combines multiple systems, like:

• Aadhaar verification

• e-KYC

• Land records

• Core banking systems

• ePACS

This makes the loan process smoother, faster, and entirely digital, especially for farmers living in rural and remote locations.

Ranjit Gautam, the Founder and CEO of 24x7 Moneyworks Consulting, said,

"This partnership reflects our aim to build a tech-driven, inclusive credit infrastructure for rural India. Our solutions are designed with empathy for last-mile users."

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NABARD's Vision for Better Rural Credit

NABARD Chairman Shaji K.V. said,

"EKCC has made the agricultural credit delivery system more accessible, transparent, and efficient."

He added that this partnership will help small and marginal farmers by giving them better access to loans. It will also help cooperative banks and PACS serve farmers in a faster and more inclusive way.

NABARD believes this collaboration will also support major government campaigns like Digital India and Atmanirbhar Bharat.

Nationwide Rollout Planned

Over the past two years, NABARD has tested the eKCC system through pilot programs in several banks. Now, it plans to implement the platform across the entire country.

Shaji K.V.mentioned that the goal is to provide quick, transparent, and inclusive loan services to farmers all over rural India.

AIFIS: Another Digital Step by NABARD

Apart from eKCC, NABARD has also developed AIFIS is a digital platform that manages interest subsidy claims under the Agriculture Infrastructure Fund (AIF).

AIFIS enables real-time verification and direct disbursement of interest subsidy claims, making the process more efficient for beneficiaries.

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CMV360 Says

With this investment, NABARD is encouraging innovation and supporting startups that aim to simplify rural financing. By backing 24x7 Moneyworks Consulting, the government is not only pushing forward the use of digital technology in agriculture but also making loan access easier for India’s farmers.