Dvara E-Dairy, Jana SFB jointly launch cattle loan service for farmers

Dvara E-Dairy Solutions has launched Dvara Surabhi Loan, a cattle loan offered digitally by leveraging new-age technologies in partnership with Jana Small Finance Bank to create scalable access to finance for unbanked and underbanked small dairy farmers in Tamil Nadu and Karnataka.

The Dvara E-Dairy Cattle Loan offers tailored loan products for dairy farmers towards cattle purchase and maintenance. The cashflow dependency on dairy and how well the cattle are managed is assessed through a combination of the ‘Surabhi Score’, a comprehensive score arrived based on digital assessment of the cattle which provides how well the cattle is managed and the estimated cashflows for the next 12 months taking into consideration various factors, as well as the farmers’ credit score. This helps mitigate the risk and helps identify the ‘right borrower’ for the loan. The loan amount varies between Rs. 30,000 to Rs. 150,000, with an average ticket size of Rs. 80,000. The loan product will go a long way in enabling financial access for small and medium dairy farmers to enhance their livelihoods and increase their incomes.

“Surabhi Loan has been launched in select areas and we are encouraged by the results. 30 per cent of our customers are first-time borrowers, and we have received 100 per cent on-time digital repayments. We have now expanded our service across Tamil Nadu and Karnataka, with plans to expand in a phased manner to other parts of the country,” said Ravi KA, Founder & CEO, Dvara E-Dairy Solutions.

The Dvara E-Dairy Solution aims to create synergy between dairy farmers, financial services institutions and value chain companies to assist them in making informed decisions. Dvara E-Dairy’s Surabhi platform provides comprehensive financial and cattle management solutions to India’s small and medium dairy farmers. As part of its Surabhi platform, Dvara E-Dairy has created the following solutions:

• Surabhi ID – Unique, digital, tamper-proof, verifiable identity of the cattle based on muzzle identity.
• Surabhi Score – Comprehensive score arrived based on the digital assessment of the cattle leveraging artificial intelligence (AI) and incorporating advanced veterinary science and practices. Helps in underwriting cattle accurately and achieving scale.
• Dvara Surabhi – a Do-it-yourself (DIY) mobile application for the farmers to know the cattle’s health status (as an indicator) within 60 seconds.
• Dvara Surabhi Loan – Cattle loan by leveraging Surabhi Score + C