AgriStack alone won't bridge rural credit gap; insurance and guarantees need overhaul: NABARD chief

India's rural credit gap remains substantial despite digital infrastructure efforts, NABARD chief Krishnan said on Thursday at the Global Fintech Fest in Mumbai. With 45% of India's population living in rural areas and dependent on farming, a shortfall of around ₹1.3 lakh crore continues to exist.

Krishnan highlighted that AgriStack—the digital agricultural ecosystem—alone cannot address this structural challenge. He stressed the need for concurrent reforms in crop insurance schemes and credit guarantee mechanisms to effectively bridge the gap and improve rural lending accessibility.