Revitalising Farmer Livelihoods through Technology and Financial Accessibility – Dvara E-Registry Impact Report

Dvara E-Registry releases its Impact Report that captures how its interventions have empowered India’s Smallholder Farmers Through Technology and Financial Accessibility.

NEW DELHI, June 28, 2023 /PRNewswire/ — The strategic emphasis of the Indian government on Doubling Farmer’s Income (DFI) has led to an array of beneficial schemes for smallholder farmers, with a strong endorsement for the formation of Farmer Producer Organisations (FPOs).

Dvara E-Registry (DER), an agri-fintech incubated by Dvara Holdings, on Tuesday released the Dvara E-Registry Impact Report. The report explores the significant impact of DER’s intervention with 25 FPOs across Maharashtra, Madhya Pradesh, Rajasthan, Odisha, and Manipur. The study, initiated in October 2022, scrutinised FPO operations, usage of the Doordrishti Krishak Application, financial linkages, and the overall farmer experiences with FPOs.

The study reveals a significant finding, with 70% of surveyed farmers expressing satisfaction with their experiences with their respective FPO. Among these, 31% are extremely satisfied.

Reflecting on Dvara Holdings’ role and its 15-year journey in financial inclusion, Samir Shah, Executive Vice Chair & Co-Founder of Dvara Holdings, stated, “Over our 15-year journey at Dvara Holdings, our unwavering focus has been on enhancing financial inclusion in India. Dvara E-Registry, a shining example of our mission, has been effectively transforming the lives of smallholder farmers by bolstering their economic strength and improving market accessibility. Our robust engagement with the farming community, powered by technology and innovation, perfectly aligns with Dvara Holdings’ mission of ensuring that every individual and every enterprise has complete access to financial services. As we look to the future, we remain committed to catalysing systemic change, supporting the farming community, and continuing to push the boundaries of financial inclusion.

DER offers a comprehensive suite of services at every stage of FPO development, focusing on rendering FPOs more efficacious and sustainable. The study, executed by DER’s field representatives, involved 1498 farmers who availed services through FPOs.

One of the most striking findings from the report is that approximately 70 percent of the surveyed farmers are new-to-credit, underscoring DER’s pivotal role in addressing a gap unfulfilled by traditional Banks/NBFCs and Microfinance institutions. These farmers express a high level of satisfaction with the services and experiences provided by their respective FPOs. Additionally, the competitive rates offered by FPOs for both agri inputs and the sale of produce contribute to the financial well-being of farmers and enhance their competitiveness in the market.

Another of the key findings was DER’s crucial role in providing farmers with vital services like soil testing and block weather forecasts. Through DER’s intervention, farmers have negotiated better pricing with manufacturers and suppliers of agricultural inputs. According to the study, farmers have made an average profit of around 10% by purchasing inputs from their respective FPOs through this aggregation model.

Co-Founder of Dvara E-Registry, Tharakeswar G, underscored the impact of DER’s work, stating, “Our mission at DER is to effect substantial changes in the agricultural landscape of India. The survey findings reaffirm the influence of Dvara E-Registry in the lives of our farmers. We have successfully empowered them with technology to enhance their agricultural productivity, equipping them with the necessary skills and resources to thrive in the rapidly evolving agricultural ecosystem.”

He added, “The positive impact of DER’s services and the usage of the Doordrishti Krishak Application underscore the effectiveness of technology in overcoming the age-old challenges farmers face. The results of our impact study will guide our future endeavours, fuelling continued innovation and refinement in our services, aiming to amplify farmers’ profitability and productivity.

Under the aegis of Dvara Holdings, DER works hand in hand with FPOs, offering solutions through cutting-edge technology and continuous support. DER leverages Remote Sensing, GIS, AI, and ML to provide farm-level analytics and actionable insights to FPOs and farmers, enabling them to successfully navigate the current agricultural landscape.

DER is currently collaborating with 50 FPOs in Maharashtra, Rajasthan, Madhya Pradesh, Manipur, and Odisha, which are supported by NABARD, SFAC, NCDC and NAFED, offering comprehensive support to their business activities and market linkages over a five-year period, starting from 2021-22. In addition, DER has also formed successful partnerships with over 160 FPOs across 12 states, reaching out to a substantial farmer base of more than 55,000 members.

The unwavering commitment of Dvara E-Registry to enhancing farmer livelihoods and strengthening the agricultural value chain promises an empowered and prosperous future for India’s farming sector. Through continuous innovation and strategic initiatives, Dvara Holdings and Dvara E-Registry are reimagining the path to financial inclusivity for farmers, reshaping the agricultural landscape of India.

About Dvara E-Registry:

Dvara E-Registry is an agri-fintech startup building a digital platform, Doordrishti, to improve access to financial and advisory services for all agri value chain stakeholders. Doordrishti is a mobile and web-based platform developed by Dvara E-Registry that brings together farmers, FPOs, and all other agricultural stakeholders. The platform allows farmers, FPOs, and partner institutions to leverage traditional and alternative data to digitise farmer and FPO lands, as well as business activity, and provide farmers of FPOs with farm and crop-specific products and services via a digital mode of information sharing.

Dvara E-Registry was recently recognised as the “Dun & Bradstreet Startup50 Trailblazer” as a part of the inaugural edition of “LEAP India Startup Summit” in 2023. Earlier, it was named one of the winners of Inclusive Fintech 50 for 2021 for its work towards financial inclusion of smallholder farmers, awarded the ‘Most Innovative AgTech’ in the ‘Emerging Start-Ups’ category at the 4th edition of the FICCI Agri Start-up summit and awards and winner of the Inclusive Finance India Awards 2021 under the category Technology for Financial Inclusion.

The startup is a portfolio company of Dvara Holdings and part of the Dvara Venture Studio cohort that supports entrepreneurs working towards large-scale systemic change in financial inclusion.

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