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

Banking & Finance

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.


      - 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).

     

Main Point :-   (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.

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