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ICICI Bank deploying satellite data to power farm credit assessment

26 Aug 2020 Evaluate

ICICI Bank is deploying satellite data to power farm credit assessment, which it claims will reduce the cost for both farmers as well as the lender. The bank has been piloting the project in a few select villages for the past two years and is extending the same to 500 villages in Maharashtra, Madhya Pradesh, and Gujarat now. The bank is using readily available satellite images from ISRO and NASA for the purpose and plans to scale up to 63,000 villages in the next three months.

ICICI Bank is a leading private sector bank in India.

Peers
Company Name CMP
HDFC Bank 692.30
ICICI Bank 1394.00
Axis Bank 1214.70
Kotak Mahindra Bank 461.00
Indusind Bank 840.00
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