Jai Kisan signs MoU with KVGB to offer rural financial services

Bengaluru: Jai Kisan has signed a memorandum of understanding (MoU) with Karnataka Vikas Grameen Bank on Wednesday to provide access to loans at lower interest and other financial services to rural customers.

The MoU marks the start of a long-term partnership with the bank to create grassroot level change in over 2,000 villages through the bank's 600 plus branches where Jai Kisan has a captive farmer base of more than 1,00,000. Jai Kisan will be one of the first few fintech platforms to fully integrate with the bank empowering a wide range of rural individuals and enterprises including farmers, farmer groups, women self-help groups and rural MSMEs with low-cost financial services.

"We are very excited to partner with KVGB to bring low-cost financial services to rural people across the State. Karnataka has been one of our most progressive states with a thriving agritech ecosystem and this partnership will help us significantly increase our reach and impact by catering to the unserved in the deepest pockets of the State." commented Arjun Ahluwalia, founder and CEO of Jai Kisan.

Jai Kisan is bridging the dire need for innovative, practical and tech-driven solutions to deploy financial services in a sustainable, cost-effective and scalable manner in rural India. Jai Kisan brings its unique product offerings to the rural market coupled with a full-stack technology platform to provide a seamless and instant access to financial services to fuel the growth of the rural Indian. Jai Kisan's new age financial services platform, coupled with the reach of the Bank is expected to deliver significant impact over the course of this partnership to rural Indians in the state of Karnataka.

It is claimed that the partnership with KVGB adds another key landmark to Jai Kisan's illustrious financial services partner roster covering the breadth of financial services in the rural space. Bringing the capabilities of a PSU, KVG Bank brings significant experience and a broad suite of capabilities including low-cost capital, thereby adding a key feather to Jai Kisan's cap.