e-NAM is primarily aimed at which of the following?
Show answer & explanation
Correct answer: C
Explanation
Answer – It is the National Digital Market.
Explanation:
- What is e-NAM? It is an All-India electronic trading portal that networks existing APMC (Agricultural Produce Market Committee) mandis (markets) into a unified system.
- Main Objective: Its primary goal is to create an integrated national market (One Nation, One Market), where farmers can sell their produce online.
- How it Works: It bridges the information asymmetry between mandis and provides real-time price information, thereby enabling farmers to secure better prices for their produce.
- Transparency: The online auction process reduces the influence of middlemen, and payments are credited directly into the farmers' bank accounts.
Additional Points:
- Launch: It was launched on April 14, 2016, by Prime Minister Narendra Modi.
- Quality Check: Under e-NAM, facilities for quality testing (Assaying) of produce are also provided within the mandis, allowing buyers to bid with confidence.
- E-Payment: The platform facilitates cashless transactions between traders and farmers.
Potential Q&A:
Question: Which organization manages the e-NAM portal?
Answer: The Small Farmers Agribusiness Consortium (SFAC), which functions under the Ministry of Agriculture and Farmers Welfare.
Question: What is the biggest benefit of e-NAM for farmers?
Answer: In addition to their local mandis, they can sell their produce at competitive prices to buyers located in any corner of the country.