NABARD Acquires 10% Stake in 24×7 Moneyworks Consulting.

Banking & Finance | Dated: 27 Apr 2025

In April 2025, Mumbai (Maharashtra)-based National Bank for Agriculture and Rural Development (NABARD) acquired a 10% equity stake in Chennai (Tamil Nadu, TN)-based agri-fintech startup 24×7 Moneyworks Consulting Private Limited.

🎯 Key Highlights:

  • - This marks NABARD's first-ever investment in a bootstrapped startup, aiming to enhance digital transformation in rural credit delivery.
  • - 24×7 Moneyworks is renowned for its flagship platform, eKisanCredit (eKCC), a fully digital loan origination system tailored for Cooperative Banks, Primary Agricultural Credit Societies (PACS), and Regional Rural Banks (RRBs).

💡 Other Important Facts:

  • (i) The eKCC platform integrates: Land records, Aadhaar and eKYC (Electronic Know Your Customer), Core banking systems, and ePACS (Digital PACS).
  • (ii) This enables end-to-end automation of loan disbursals, reducing processing time and enhancing transparency.
  • (iii) As of March 2025, India has 7.71 crore operational KCC holders, including 1.24 lakh for fisheries and 44.4 lakh for animal husbandry.

📚 Test Your Knowledge:

What percentage stake did NABARD recently acquire in 24×7 Moneyworks Consulting?

Correct Answer: 10%

🚀 Quick Recap: