PRNEWSWIRE
GURUGRAM, India, Nov. 28, 2024 /PRNewswire/ -- BharatRohan, a pioneer in precision agriculture, has launched the BharatRohan Pragati card in collaboration with Obopay and Mastercard to empower Indian farmers with a specialized multi wallet instrument that has both open loop and close loop capabilities. 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.
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.
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 INR 5,000 to INR 50,000, providing crucial funds for each stage of their crop cycle (subject to underwriting norms of the lender).
"BharatRohan is committed to promoting sustainable agriculture," says 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."
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.
Targeted to reach 500,000 farmers by 2027, the Pragati card supports India's goal of doubling farmers' income. It embodies the three collaborating entities' shared vision of combining financial access, advanced technology, and sustainability incentives into a single solution.
About BharatRohan
BharatRohan, a pioneering Ag-tech firm in India, empowers farmers with innovative, sustainable solutions that enhance productivity. Using 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.
About Obopay
Headquartered at Bangalore, OBOPAY help Corporates and Financial Institutions create new journeys to embed financial transactions and deliver a seamless experience for their customers. OBOPAY has provided comprehensive, industry-leading mobile payment solutions and expertise to some of the world's leading brands globally across industries. We are an RBI licensed entity to offer Prepaid Payments Instruments in India, key offerings include Prepaid Wallets/Digital Account services and payment solutions. The company offers enterprises an integrated processing platform that is capable of linking multiple participants into a transaction network and digitize payments. OBOPAY caters to the needs of users, corporates and merchants and addresses multiple payment gaps that exist for corporates, distribution companies, Agri-Techs, EPC players, Healthcare industries etc.
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