SFAC MD issues first set of digital share certificates to farmers under KANCHI

Aug 21, 2017

KANCHI (Kisan AdvaNcement through CasHless Innovation), a CDFI platform developed in partnership with National Agro Foundation (NAF) is a modular technology driven tool to manage and streamline Farmer Producer Organisations (FPO) financial, shareholding and business operations.  

Under KANCHI, the FIS (Farmer Investor Service) module investor services such as equity/share certificate issuance, distribution of corporate benefits, statutory compliance and investor grievance redressal have been digitized. The module was launched in the first week of August 2017.  

KANCHI was presented as a solution to improve efficiency of FPOs to Shri Sumanta Chaudhuri, Managing Director, SFAC (Small Farmers’ Agri-Business Consortium) in Chennai, Tamil Nadu on 21st August, 2017. During the course of the meeting, MD handed over the first set of digital share certificates generated by FIS to the shareholding farmers.

Other components of KANCHI were also elaborated on – specifically FDR (Farmer Data Repository), FIS (Farmer Investor services), LRS (Loan & repayment system), and Input Centre Digitization (ICD).

CDFI and NAF are currently piloting KANCHI platform at Uthiramerur FPO in Kancheepuram dstrict of Tamil Nadu.