New Delhi (Agency): The National Bank for Agriculture and Rural Development (NABARD) is set to take part in multiple panel discussions at the Global Fintech Fest (GFF) scheduled from September 5th to 7th, 2023 in Mumbai.
During the event, NABARD representatives will emphasize the importance of collaboration between agritech and fintech sectors. They will elaborate on how the integration of these sectors can enhance the existing agricultural value chain, leading to a more sustainable, efficient, and technologically advanced agricultural ecosystem. Additionally, NABARD will share insights into the impact of digital identity and Know Your Customer (KYC) solutions on regulatory frameworks. Low-cost fintech solutions have the potential to enable Regional Rural Banks (RRBs) and Rural Co-operative Banks (RCBs) to adopt digital KYC systems, enhancing efficiency in the KYC AML CFT framework of these banks.
Through its participation in GFF, NABARD aims to present its vision for transforming agriculture through “Agriculture 2.0,” creating a thriving ecosystem in rural India by combining agriculture, finance, and technology.
Shri Manikumar S, Chief General Manager (CGM) of NABARD’s Strategic Planning and Product Innovation Department (SPPID), expressed enthusiasm about the platform: “GFF 2023 is a fantastic platform for us to communicate our beliefs about the benefits of harnessing the collective brilliance of fintech and agritech startups.”
NABARD’s participation in the event signifies its commitment to supporting the growth and innovation of the agricultural sector in India through strategic collaborations and technological advancements.
The National Bank for Agriculture and Rural Development (NABARD) is a key development financial institution in India, established in 1982 with headquarters in Mumbai. NABARD’s mission is to promote sustainable and equitable agriculture and rural prosperity through credit support, related services, institutional development, and innovative initiatives. The institution plays a pivotal role in rural development, empowering farmers, and fostering economic growth in rural areas.
Through its participation in the Global Fintech Fest, NABARD seeks to contribute to the transformation of the agricultural landscape in India by leveraging the potential of fintech and agritech collaborations. This aligns with NABARD’s commitment to creating a more sustainable and technologically advanced agricultural ecosystem.