● The partnership will allow Yara branded stores named as Yara Crop Nutrition Centre (YCNC) to access quick funds through a digital process at competitive rates
● YCNCs will also get up to 90 days of repayment tenures with seven-day interest-free credit facility
30, June 2022, National: With a vision to make the agriculture ecosystem more financially independent and digitally advanced, Unnati, a digital agriculture ecosystem, has teamed up with Yara, a Norwegian multinational operating in India providing crop nutrition and farming solutions. As part of this partnership, Unnati will offer working capital credit, in collaboration with its lending partners and enable Yara Crop Nutrition Centers (YCNCs) to swiftly access funds through a digital process across India.
YCNCs will also be able to avail up to 90 days of repayment tenures with seven days interest-free credit facility. The latest tie-up allows YCNCs to be enabled by the uStore app, an easy way for Agri input retailers, distributors, Farmer Producer Organizations (FPOs), and traders to manage business, payment services, working capital loans, and a lot more. This alliance is the right step towards digitizing YCNCs, in enabling them to create digital stores, engage farmers, order tracking, intelligent stock management and sourcing.
Amit Sinha, Co-Founder and Director–Unnati said, “Unnati has been digitizing all farmer touchpoints and working closely with Agri-input brands and channels to provide digitally enabled services to farmers. Unnati will be able to bring in the best of digital services, enabled with access to easy credit facilities from its partner NBFCs and Banks to the network of YCNCs across the country. It combines the crop nutrition management portfolio of Yara delivered through YCNCs with the digital platform of Unnati. We are thrilled to have YARA as a partner and genuinely hope to make a change for the better so that we, along with the farming community, can grow together. “
Sanjiv Kanwar, Managing Director, Yara, India said, “With the help of Yara Crop Nutrition Centers (YCNCs), we are attempting to create an ecosystem wherein the farmers have access to quality inputs essential for improving the marketable yields leading to increased farm incomes. With Unnati as a partner, YCNCs shall have the benefit of getting access to an efficient credit system which shall help grow their business ultimately benefiting the farmers.”
It is pertinent to mention that Yara is a pioneer in providing best-in-class crop nutrition and farming solutions to farmers. It manufactures and markets various grades of fertilizers, plant nutrients, and growth regulators. Furthermore, it provides farm advisory services and digital farming solutions through one-of-its-kind distribution network comprising dealers and brand franchised retailers called Yara Crop Nutrition Center (YCNC). Yara is essentially addressing retailers’ and dealers’ issues such as inaccessibility to formal credit facilities at competitive rates, and absence of Agri-focused credit lines typically designed for agribusinesses.