GUWAHATI, March 13: Axis Bank announced its collaboration with ITC Limited to offer the Bank’s lending products and services to farmers who are a part of ITC’s agriculture ecosystem. This partnership will enable Axis Bank to cater to the financial requirements of the unserved and under-served farmers based in the country’s remote regions. The Bank will offer a wide range of assets and liability products such as farmer loans, gold loans, etc. Axis Bank will leverage ITCMAARS (Meta Market for Advanced Agricultural Rural Services), a full-stack Agri-tech application for contacting farmers and addressing their financial requirements. Additionally, it will also offer an extensive range of products and services to the farmers through its rural-urban and semi-urban (RUSU) branches located across 656 districts of India.
Speaking about the partnership, Munish Sharda – Group Executive & Head – of Bharat Banking, Axis Bank said, ‘’At Axis Bank, we have been consistently working towards ensuring that all segments of customers based across the RUSU markets are provided with easy access to credit facility and banking solutions. This partnership is in alignment with our Bank’s Bharat Banking mission of extending our reach in the remote regions and providing them with seamless customer experience.’’
Rajnikant Rai, Divisional Chief Executive, Agri Business Division, ITC Ltd said, “ITC has spearheaded multi-dimensional interventions to transform the lives of farmers, powered by the ITC e-Choupal eco-system that connects with over 4 million farmers. Taking a step forward, to bring the power of the digital revolution to farmers, we have now implemented ITCMAARS a phygital eco-system that provides a range of solutions through hyperlocal and personalized advisory, Agri- Inputs, Financial Services, and Market linkages. We are happy to partner with Axis Bank to extend banking solutions to the farmers we have engaged with over the years.”