The National Bank for Agriculture and Rural Development (NABARD) has acquired a 10 percent capital participation in the 24×7 MoneyWorks Consulting PVT LTD, an agricultural company. This marks Nabard’s first investment in a start -up with liquidity problems.
The 24×7 Moneyworks Consulting PVT LTD platform, Ekisancredit (EKCC), is a totally digital loan origin designed for cooperative banks, PAC and RRB. The EKCC platform integrates customs with land records, Aadhaar, Ekyc, Central Banking and EPAC systems, which allows the end -to -end automation of the rural credit life cycle.
Around the last two years, Nabard has put EKCC in several banks and the system is now ready for the deployment of the entire country.
Strategic collaboration
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The new company has also developed AIFIS-A digital platform to manage interest grant claims under the Agricultural Infrastructure Fund (AIF). AIFIS guarantees real -time validation and the disbursement of interest subsidy claims.
GS Rawwat, Nabard’s manager deputy director, said the bank’s investment reflects the belief that digital innovation should train existing institutions of last mile. EKCC is a scalable solution and ready for the field, he said.
Ranjeet Gautam, founder and CEO or 24×7 Moneyworks Consulting PVT LTD said: “This association validates our mission of building technological and inclusive credit infrastructure for rural India. Our solutions are users.” “
Posted on April 23, 2025