A tripartite agreement was signed with NMB Bank Limited, Kheti Ventures Pvt. Ltd., and Bagmati Rural Municipality, Makwanpur to provide NMB Digital Loans (Kheti loans) to improve economic conditions for the farmers in Bagmati Village.
This partnership will provide loans up to Rs 2 lakhs without collateral only for business farmers for Bagmati Rural Municipality through the farming app.
Bagmati Rural Municipality will assist in selecting qualified farmers and managing the market, while also linking dairy farmers with dairies that will manage their EMI (Equated Monthly Instalment) payments allowing farmers to choose their own repayment schedules.
The entire process is digital and Kheti will offer digital literacy training, and NMB Bank will provide financial literacy training, both in coordination with the municipality. In addition, Kheti Venture will continue supporting farmers by offering digital consultations and access to insurance.
The Kheti app was developed in 2019 and began its collateral-free digital loan program in collaboration with NMB Bank three years ago.
You can find the app here.
The agreement was signed by Dr. Buddhi Malla, Head of MSME and Subsidy Loans at the NMB Bank, Neuraj August Karki, Co-founder of Kheti, and Sarkesh Ghalan, chairman of Bagmati Rural Municipality.
