Weather The True Business Accelerator

Reported by: |Updated: June 2, 2017

Whether  it  is  the  extreme  monsoon  or  the  drought  summers,  the unpredictable Indian weather takes a toll on so many businesses every year. Rural areas and agriculture are usually the worst hit, but the impact on other businesses is often severe. The lives of more than 60% of the village population are affected due to  sudden climatic disruptions,and this in-turn has a domino effect on the nation’s GDP.Banks,  who  are  providing  the  benefit  of  priority  sector  lending,  bear the  biggest  brunt  from  weather  catastrophes.  They  have  to  balance judicious  lending  decisions  in  keeping  with  the  norms  stipulated  by the government and Corporate Social Responsibility (CSR) practices. Often such decisions create large Non-performing assets (NPA) which is another hindrance faced by financial organizations these days. Crop insurance,  a  key  offering  in  the  insurance  portfolio,  is  also  strongly dependent  on  weather.  As  weather  gets  progressively  embedded with  economic  growth,  so  will  your  organization’s  performance  and  the  performance  of  the  Banking,  Financial  Services  &  Insurance (BFSI) sector.

The  BFSI  sector  hither  to  has  been  working  on  conventional  data and  rudimentary  weather  reports  –  these  will  be  insufficient  for  the challenges  ahead.  The  need  of  the  hour  is  refined  Historic  Weather Data, highly accurate 15-day forecast and reliable Seasonal Forecasts.

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