NABARD Acquires 10% Stake in 24×7 Moneyworks to Digitize Rural Credit
The National Bank for Agriculture and Rural Development (NABARD) has taken a 10% equity position in the Agri-fintech firm 24×7 Moneyworks Consulting Pvt Ltd, a historic move that demonstrates its dedication to promoting digital innovation in rural India. This represents a strategic change in NABARD’s approach to using technology to strengthen rural lending systems and its first-ever investment in a bootstrapped firm. The investment intends to enhance small and marginal farmers’ access to financing and hasten the digitization of agricultural loans.
At the heart of this collaboration lies 24×7 Moneyworks’ flagship product, eKisanCredit (eKCC), a fully digital loan origination and processing system designed specifically for Cooperative Banks, Primary Agricultural Credit Societies (PACS), and Regional Rural Banks (RRBs). The platform integrates with land records, Aadhaar, eKYC, core banking systems, and ePACS, enabling end-to-end automation of the rural credit lifecycle. By digitizing the entire loan journey—from application to disbursal—eKCC eliminates paperwork, reduces processing time, and brings unprecedented levels of transparency and efficiency to rural banking.
Over the past two and a half years, NABARD has piloted the eKCC platform across a range of cooperative and rural banks to test its real-world impact. The results have been highly promising, demonstrating the system’s ability to streamline operations, reduce turnaround times, and enhance service delivery. With these successful pilots in place, NABARD has now paved the way for a full-scale national rollout of the platform.
Speaking on the development, NABARD Chairman Shaji K. V. said, “eKCC has demonstrated the potential to improve access, transparency, and efficiency in dispensing agricultural credit. This strategic collaboration will help Cooperative Banks, PACS, and RRBs deliver faster, transparent, and more inclusive credit services to small and marginal farmers.” The move is expected to transform the way rural credit is accessed and delivered, particularly in underserved areas where traditional banking channels often fall short.
The investment also reflects NABARD’s broader strategic push to support innovative fintech solutions that align with the government’s goals of financial inclusion, digital empowerment, and agricultural reform. By partnering with a grassroots-focused, bootstrapped startup like 24×7 Moneyworks, NABARD is signaling a new era of public-private cooperation in building robust and scalable financial infrastructure for rural India.
With this strategic backing, 24×7 Moneyworks plans to expand the reach of its platform, onboard more rural banks, and continue enhancing its technology to offer bundled services such as digital credit scoring, crop insurance integration, and real-time monitoring. The initiative is set to create a ripple effect in the rural financial ecosystem, empowering financial institutions and millions of farmers alike with faster, more reliable, and inclusive access to agricultural credit.
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