Additionally, since the land verification is done in a contactless manner with the help of satellite data, credit assessments can be done within a few days as against the industry practice of upto 15 days.
The bank has been using satellite data for the past few months as a pilot basis in over 500 villages in Maharashtra, Madhya Pradesh and Gujarat and will now scale it up to over 63,000 villages across the country in two to three months.
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Unknown titleisions for farmers, it said. “This use of technology helps farmers with existing credit to enhance their eligibility, while new-to-credit farmers can now get better access to credit,” it added. <span>Additionally, since the land verification is done in a contactless manner with the help of satellite data, credit assessments can be done within a few days as against the industry practice of upto 15 days. The bank has been using satellite data for the past few months as a pilot basis in over 500 villages in Maharashtra, Madhya Pradesh and Gujarat and will now scale it up to over 63,000 villages across the country in two to three months. Anup Bagchi, executive director, ICICI Bank, said, “Time has come to link Vigyan [technology] with kisan [farmers].Earlier, one had to visit remote locations to manually assess a host o Summary
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