By Mr. Abhay Ray 
Introduction
The National Bank for Agriculture and Rural Development (Nabard) has acquired 10 per cent equity stake in 24×7 Moneyworks Consulting Pvt Ltd, an agri-fintech venture. This marks Nabard’s first-ever investment in a boot-strapped start-up.
24×7 Moneyworks Consulting Pvt Ltd’s platform, eKisanCredit (eKCC), is a fully digital loan origination system designed for cooperative banks, PACS and RRBs. The eKCC platform integrates seamlessly with land records, Aadhaar, eKYC, core banking systems and ePACS, enabling end-to-end automation of the rural credit lifecycle. Over the past two and half years, NABARD has piloted eKCC across various banks and the system is now ready for nation-wide roll-out.
Agri-Fintech Innovation in Rural India Gets NABARD’s Support
In a strategic move aimed at accelerating financial inclusion and technological advancement in India’s rural economy, the National Bank for Agriculture and Rural Development (NABARD) has announced its investment in a promising agri-fintech start-up. The initiative reflects NABARD’s ongoing commitment to fostering innovation that can empower farmers, streamline agri-financing, and enhance the overall efficiency of rural ecosystems.
Driving Rural Transformation through Technology & Focus on Financial Inclusion
This partnership marks a significant step in bridging the digital divide between urban and rural sectors. By investing in a tech-driven agri-fintech start-up, NABARD is positioning itself at the forefront of rural digital transformation. The start-up, which focuses on offering AI-powered lending, crop insurance, digital payments, and market linkage solutions, is expected to simplify access to financial services for small and marginal farmers.
A key objective of this collaboration is to make agri-finance more accessible and affordable. Traditional challenges like lack of collateral, credit history, and logistical barriers have long hindered rural farmers from accessing institutional credit. The agri-fintech model leverages digital data from satellite imagery to IoT-based soil monitoring to assess creditworthiness and reduce lending risks.
Boosting Farmer Resilience and Productivity
Through this initiative, farmers will not only gain faster access to loans but also benefit from real-time insights on weather, market trends, and crop health. These digital tools will help improve decision-making, optimize yields, and enhance overall productivity, while enabling financial resilience in the face of climate change and market volatility.
Strategic collaboration and Vision from NABARD
According to NABARD officials, this investment aligns with the broader national strategy to digitize agriculture and support rural entrepreneurship. It also complements government initiatives such as the Digital India mission and the Agri Stack framework, reinforcing the importance of public-private collaboration in rural development.
Quoting Shaji KV, Chairman of Nabard, a media statement said: “eKCC has demonstrated the potential to improve access, transparency, and efficiency in dispensing agricultural credit. This strategic collaboration will help cooperative banks, PACS and RRBs deliver faster, transparent, and more inclusive credit services to small and marginal farmers.”
The start-up has also developed AIFIS a digital platform to manage interest subvention claims under the Agriculture Infrastructure Fund (AIF). The AIFIS ensures real-time validation and disbursement of interest subvention claims.
GS Rawat, Deputy Managing Director, Nabard, said that the bank’s investment reflects the belief that digital innovation must empower existing last-mile institutions. eKCC is a scalable, field-ready solution, he said.
Ranjeet Gautam, Founder and CEO of 24×7 Moneyworks, added, “This partnership validates our mission to build tech-driven, inclusive credit infrastructure for rural India. Our solutions are designed with empathy for last-mile users.”
Looking Ahead
With this investment, NABARD is setting a precedent for how traditional financial institutions can play a proactive role in fostering fintech innovations tailored for rural India. As the start-up scales its operations, it is expected to reach thousands of underserved farmers, unlocking new opportunities and creating a more inclusive and tech-savvy rural economy.
Conclusion
NABARD’s landmark investment in 24×7 Moneyworks Consulting Pvt Ltd marks a significant leap toward digitizing rural credit systems and fostering inclusive financial innovation. By backing the eKisanCredit (eKCC) platform, NABARD is not only supporting a scalable, tech-driven solution but also reinforcing its vision of empowering cooperative banks, PACS, and RRBs to serve farmers more efficiently. The collaboration stands as a testament to the growing importance of agri-fintech in addressing long-standing challenges in rural lending, including accessibility, transparency, and speed. With additional tools like AIFIS for managing interest subvention, the start-up is well-positioned to streamline agricultural financing at scale. As this initiative aligns with national digital and agricultural strategies, it showcases the critical role of public-private partnerships in transforming India’s rural landscape.
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