NABARD has acquired a 10% stake in Agri-fintech startup 24×7 Money Works Consulting, marking its first investment in a bootstrapped venture. The National Bank for Agriculture and Rural Development (Nabard) has acquired 10% equity in Agri-fintech venture 24×7 Money Works Consulting for an unspecified amount.
According to an official statement, this is NABARD’s first-ever investment in a boot-strapped start-up. The fintech venture’s flagship platform, eKisanCredit (eKCC), is a digital loan disbursal system designed specifically for cooperative banks, primary agricultural credit societies (PACS), and Regional Rural Banks (RRBs).
The platform integrates farmers’ land records, Aadhaar, eKYC, core banking systems, and ePACS. At present, there are 7.71 crore operational Kisan Credit Card (KCC) holders. This includes 1.24 lakh and 44.4 lakh KCCs issued to fisheries and animal husbandry activities, respectively.
