Revolutionizing Agricultural Financing with e-Kisan Upaj Nidhi Digital Gateway
Discover the e-Kisan Upaj Nidhi Digital Gateway, a game-changing platform facilitating loan access for farmers. Learn about its benefits, streamlined loan approval process, and how it connects farmers with banks to enhance pledge finance and digital finance in rural areas.
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Presentation Transcript
Presentation on e-Kisan Upaj Nidhi (Digital Gateway) 1
Preface WDRA proposed the concept of an electronic platform (Digital Gateway) to facilitate the process of obtaining loans on e-NWR from banks. DFPD consented to the implementaction of the concept. Task Force was requested for implementation through DFS who has formed the Task Force. After several rounds of discussions by WDRA with DFPD and NABARD, the digital gateway was hosted on the 'Jan Samarth' portal developed by the Task Force for other loan schemes of the Government of India. 2
Benefits of Digital Gateway 1. In the digital gateway process, online in-principle approval will be given on the loan application. After that the loan will be disbursed by the bank after completing the records. 2. With the use of digital gateway, the farmer will be spared visits to the bank for loan application. Farmers will be able to submit their loan applications while sitting at home. 3. The gateway will also make it easier for bank employees to examine the loan application as the initial scrutiny of the application at various points will be done online through the gateway itself. 4. The system will be progressively experience in using the gateway. improved based on 3
Benefits of Digital Gateway 5. The digital gateway is an important step towards connecting farmers with banks and making loan access easier. 6. This will improve pledge finance against agricultural stock from current levels across the country. 7. This is another step towards providing digital finance in rural areas. 4
Details of loan approval process 1. The applicant will register on the portal with the mobile number registered in the repository account number. 2.The applicant will enter the Repository Account Number and other necessary information to fetch the eNWR issued in his/her account. 3. The applicant will select the number of ENWRs to be pledged and complete Aadhaar authentication. 4. The applicant will submit the application by entering other details like PAN/Form 60, income and asset details, existing loan details etc. 5. The gateway will get the details of the applicant from the credit bureau online. 5
Details of loan approval process 6. Based on the details entered on the portal, the Rule Engine of the portal will publish various offers from the onboarded banks. The applicant will select the bank offer of his/her choice to proceed further. 7. The portal will issue digital approval in principle on the application. 8. The applicant will submit an application to the Repository Participants for placing a lien by the bank chosen by him on the portal. 9. The applicant will also complete the required documents by visiting the selected branch on the portal. The Bank will disburse the loan by marking a lien on eNWR. 6
PROCESS FLOW FOR e-NWR FINANCING @ JANSAMARTH PORTAL NON STP (PHASE 1) List of Fetching of eNWR based on: 1. eNWR number 2. Date Range 3. Selection of Commodity to be financed Deposit Account & mobile no. verification with repository Registers using mobile no. and OTP verification Applicant visits JSP and undertakes eligibility calculation. activeeNWRs(free from all encumbrance) fetched (Applicant selects the eNWR to be financed) Identity Verification (Aadhaar Validation) PAN Personal & other details filled in by the applicant Verification/ Form 60 generation API 1 API 2 API 4 API 3 Commodity Details (all available details fetched from eNWR, price fetched fromAGMARKNE T, Financial Details (Income, Asset & Liability details) Credit Details (Information of existing Loan etc.) Branch Selection Applicant selects Bank based on offer Guarantor details (If applicable) Detail of Agri land holding Bank Account Verification Banks Rule Engine success Temp. Blocking of selected e-NWR API 8 API 7 API 5 API 6 Bank will do pre- sanction survey / due diligence/ documentation and process the loan in Bank's system (if found eligible) Loan account will be opened in Banks system and information will be passed to JanSamarth in Reverse API for MIS. Information of sanction/rejection passed to JanSamarth for creation/removal of temp. blocking Information of pledge creation/ removal of temp. blocking passed to bank API 9 Data shared to bank from JanSamarth API 11 & API 12 API 14 API 13 API 10 Post Live Activities Current Phase 7
