Agritech platform Unnati has partnered with Yara to offer working capital credit to the dealer and retailer network of the crop nutrition company. The partnership will enable the Yara Crop Nutrition Centres (YCNCs) to swiftly access funds through a digital process from Unnati ‘s lending partners which include NBFCs and banks.
YCNCs will also be able to avail up to 90 days of repayment tenures with seven days interest-free credit facility. “The latest tie-up allows YCNCs to be enabled by the uStore app, an easy way for agri input retailers, distributors, farmer producer organisations (FPOs), and traders to manage a business, payment services, working capital loans, and a lot more,” Unnati said in a statement.
This alliance is a step towards digitising YCNCs, enabling them to create digital stores, engage farmers, order tracking, intelligent stock management and sourcing.
Amit Sinha, Co-Founder and Director-Unnati, said, “Unnati will be able to bring in the best of digital services, enabled with access to easy credit facilities from its partner NBFCs and banks to the network of YCNCs across the country. It combines the crop nutrition management portfolio of Yara delivered through YCNCs with the digital platform of Unnati.“
‘Creating an access to quality inputs’
Sanjiv Kanwar, Managing Director, Yara India, said, “With the help of YCNCs, we are attempting to create an ecosystem wherein the farmers have access to quality inputs essential for improving the marketable yields leading to increased farm incomes. With Unnati as a partner, YCNCs shall have the benefit of getting access to an efficient credit system which shall help grow their business ultimately benefiting the farmers.”
Yara manufactures and markets various grades of fertilisers, plant nutrients, and growth regulators. Furthermore, it provides farm advisory services and digital farming solutions through YCNC. Yara is essentially addressing retailers’ and dealers’ issues such as inaccessibility to formal credit facilities at competitive rates, and the absence of agri-focused credit lines typically designed for agribusinesses, Unnati said.