Chandigarh, April 26 -- The National Bank for Agriculture and Rural Development (Nabard) has joined forces with the Reserve Bank Innovation Hub (RBIH) to introduce a system that promises to drastically cut down the processing time for agricultural loans in India.
The collaboration will integrate Nabard's e-KCC loan origination portal with RBIH's Public Tech Platform for Frictionless Credit (PTPFC).
This integration is expected to streamline the lending process, reducing the turnaround time for loan approvals from the current 3-4 weeks to just 5 minutes for India's 120 million farmers.
By leveraging digital land records made available by over 10 states on the PTPFC platform, lenders will have seamless access to credible information, fo...