Which is the first bank in India to introduce the use of satellite data to assess credit worthiness of farmers ?

• Private lender ICICI Bank has become the first ever bank in India to make use of satellite data, imagery from Earth observation satellites, to assess credit worthiness of farmers.
• Using the satellite data, the bank will be able to measure an array of parameters related to the land, irrigation and crop patterns and use it in combination with demographic and financial parameters to make speedy lending decisions for farmers.

By: Rohit Middha