NABARD picks up 10% stake in agri-fintech firm 24×7 Moneyworks

The National Bank for Agriculture and Rural Development (NABARD) said it had acquired 10% equity stake in 24×7 Moneyworks Consulting Pvt. Ltd., an agri-fintech venture, for an unspecified amount.

This is NABARD’s first-ever investment in a bootstrapped start-up. 24×7 Moneyworks Consulting’s flagship platform, eKisanCredit (eKCC), is a fully digital loan origination system which integrates seamlessly with land records, Aadhaar, eKYC, core banking systems enabling end-to-end automation of the rural credit lifecycle. 

Over the past two-and-a-half years, NABARD has piloted eKCC across various banks and the system is now ready for nation-wide roll-out.

Shaji K.V., Chairman, NABARD said, “eKCC has demonstrated the potential to improve access, transparency, and efficiency in dispensing agricultural credit. This collaboration will help cooperative banks and others deliver faster, transparent, and more inclusive credit services to small and marginal farmers.”