Kotak facilitates online transactions on eNAM for farmers & traders

-

Kotak Mahindra Bank has announced that National Agriculture Market (eNAM), a pan-India electronic trading portal for farm produce, has selected it as a digital payments partner. The Bank will enable and facilitate online transactions for all stakeholders on the eNAM platform, including farmers, traders, and farmer producer organizations (FPOs).

eNAM Flow Chart
Under this initiative, Kotak will provide payment, clearing, and settlement services on the eNAM platform to facilitate trade between a buyer and seller of Agri produce. Kotak has integrated its payment system and portal directly with the payment interface of the eNAM platform to enable quick and safe transactions for Agri participants who have joined the eNAM platform.

B S Sivakumar, president, and key leadership team member, Kotak Mahindra Bank said, "The eNAM online ecosystem will give farmers more power over pricing decisions, greater transparency, and availability of financial support. We are delighted to be one of the first banks to serve as an online payments and transactions partner on eNAM and play our part in accelerating the digital revolution that is underway in the Indian agriculture sector.” 

eNAM was formed on April 14, 2016 as a unified national market for agricultural commodities by networking Agricultural Produce Market Committees (APMCs) across the country. eNAM currently covers 1,000 mandis across 18 states and three union territories. There are around 1.68 crore farmers registered on the platform.

Comments

Post a Comment

Popular posts from this blog

ARFF unit at Mangaluru International Airport is future ready

-
Image
The Aerodrome Rescue and Firefighting unit of Mangaluru International Airport has enhanced the mandated protocols set as per the strict norms that the aviation sector has defined. Strengthening manpower, statutory exercises, augmenting training for its personnel, following SOPs, and mutual ideation with their counterparts, ARFF strives to create a safe, secure, and efficient air hub. Mangaluru International Airport has enabled the ARFF unit at this category 7 airport by recruiting the mandated numbers. From 37 ARFF personnel in 2020, Mangaluru International Airport has increased the ARFF personnel strength to 72 to serve the stakeholders effectively. This enables ARFF to have 17 personnel per shift against 12 personnel earlier, giving them the operational edge. A crucial operational milestone was met in October 2021 when ARFF ensured operational readiness of all five airport crash fire tenders that including three crash fire tenders and two rapid intervention vehicles. ARFF premises in...
Read more

KIOCL Ltd Achieves Stellar Performance In Q1

-
Image
KIOCL Limited, a CPSU under the ministry of steel reported a 139% increase in revenue from operations at ₹1042.05 crores and profit before tax (PBT) of ₹295.22 crores and profit after tax (PAT) of ₹215.92 crores for the first quarter of FY 2021-22. The board of directors of the company approved the un-audited financial results for the first quarter ended on June 30 in its meeting held through video conference.           The company reported 18% higher pellet production at 6.03Lakh tonnes compared to 5.11 lakh tonnes in the first quarter of the previous year. The total revenue earned is ₹1059.50 crores as against ₹460.58 crores, up by 130%. The profit before tax is ₹295.22 crores as against ₹18.97 crores, up by 1456 %. The profit after tax at ₹215.92 crores is up by 1696% as against ₹12.02 crores. The company achieved pellet production of 6.03 lakh tonnes as against 5.11 lakh tonnes in the previous FY, up by18% Swapan Kumar Gorai, CMD, KIOCL Ltd The company ...
Read more

Kolar Mangoes Head For Delhi In Karnataka's First Kisan Rail

-
Image
50% Transport Cost subsidised in Kisan Rail by Union Govt 250 Tonnes Mango transported from Kolar to Delhi Farm producers to benefit from swift transport of fruits & vegetables to destinations across the country Karnataka's first Kisan Rail carrying 250 tonnes of mango grown in Kolar region chugged off from Doddanatta halt station (Chintamani), Kolar district for Adarsh Nagar Station, Delhi on June 19. S Muniswamy, Member of Parliament, Kolar with M Krishna Reddy, Chintamani MLA flagged off the train in the presence of Ashok Kumar Verma, divisional railway manager, Bengaluru division of Hubballi headquartered South Western Railway (SWR). Indian Railways started 'Kisan Rail' services in the union budget 2020-21. The primary objective of these trains is to increase income in the farm sector by connecting production centres to markets and consumpion centres across every corner of the country and are run on time-tabled paths. Their punctuality is monitored very strictly to ...
Read more