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CSR in India

A New CSR initiative to digitize rural ecosystem in Maharashtra to benefit 10 Lakh farmers

rural ecosystem in Maharashtra

Digitizing the rural ecosystem in Maharashtra is benefiting farmers

The rural ecosystem in Maharashtra – Today, BASIX Social Enterprise Group and Mastercard announced the opening of BASIX Farmers’ Market (BFM), an agritech platform. The partnership supports the Indian government’s goal of integrating farmers into the digital economy. For the benefit of small and marginal farmers, BFM will make use of Mastercard’s technological capabilities and BASIX’s extensive industry knowledge in the field of agriculture. By solving the core issues with price discovery, market reach, payments, and credit availability, this will be accomplished. 
 
BASIX has registered 1 lakh farmers from five districts in the Vidarbha region of Maharashtra on the BFM platform over the course of its 26-year history of helping farmers and supporting more than 600 Farmer Producer Organizations (FPOs) throughout the nation. As part of their collaboration with the Maharashtra State Rural Livelihood Mission, BASIX and Mastercard hope to enhance the lives of over 10 lac (one million) farmers through BFM, including the 200 new Farmer Producer Organizations (FPO) that are being supported by the SMART Project. 
 
Currently serving farmers in the Maharashtra districts of Nagpur, Akola, Bhuldana, Wardha, and Amravati, BFM intends to expand further throughout India in order to build a financially viable digital agriculture ecosystem. FPOs and farmer groups can easily sign up for a free account on the BFM platform and sell their products to end customers without any fuss. For FPOs, the platform digitizes data and workflows with strict controls over data protection and privacy. The platform is also prepared to function in places with erratic connectivity, such distant regions of the nation where several small farmers are active.

The rural ecosystem in Maharashtra

“We are ecstatic to introduce BFM in collaboration with Mastercard. The BASIX group has led the FPO revolution in India and pioneered a number of agri value chain components, including the design and implementation of agri-finance at scale. I am pleased that BASIX and Sub-K are working together on this project because Sub-K, a fintech that BASIX has fostered, is already setting the standard for fintech advancements in the field of financial inclusion. We have a strong belief in the ability of technology to enable growth, and we value our cooperation with Mastercard, a leading provider of payments technology on a worldwide scale. Sattaiah Deverakonda, Group MD & CEO, BASIX, stated, “We want to affect at least 1 million farmers with this project in the next five years. 
 
The introduction of BASIX Farmers’ Market is a development of Mastercard Farm Pass, a rural and agricultural digitization solution that benefits one million farmers worldwide and more than 3.5 lakh farmers across five states in India. It is a digital ecosystem platform that connects farmers with buyers, FPOs, and other participants in the agriculture industry offline so they can get the greatest price for their produce. 
 
By digitizing the value chains, the platform offers banks, financial institutions, FPOs, and NGOs the chance to build a white-labeled, economically viable agri-ecosystem. As a result, they establish long-term partnerships with smallholder farmers and use Mastercard technology to provide them financing options that were previously impractical.