HDFC Bank integrates with GOI’s National Agriculture Market
Srinagar: HDFC Bank Friday announced its integration with the Government of India’s National Agriculture Market (eNAM) to enable digital collections and settlement of funds to various e-NAM beneficiaries.
Launched in 2016, with Small Farmers Agri–Business Consortium (SFAC) as the nodal implementing agency under the aegis of the Ministry of Agriculture and Farmers Welfare, eNAM is an online trading platform which facilitates online transaction of agricultural commodities for farmers, traders, FPOs and other stakeholders.
HDFC Bank has partnered with the SFAC to further improve the ease of doing business on e-NAM platform by offering the Multi-Netbanking, Debit card, NEFT/RTGS and UPI/IMPS collection modes.
Farmers utilizing the e-NAM platform simply need to upload required KYC details to get registered.
The bank further supports the farmers with its 5,000+ branch network. With over 50% of its branches in Semi-Urban and Rural areas, the bank gives the farmers and traders access to its banking services to support their trading activities on the eNAM platform, even in remote geographies.
“As envisioned by Prime Minister Narendra Modi to maximise the benefit for farmers by use of technology. I expect that this tie up with HDFC Bank will benefit the farmers across the country as they will be able to do business transactions from place of their convenience,” said Neel Kamal Darbari IAS, Managing Director, SFAC.
“We are delighted to have the opportunity to partner with SFAC to offer our banking services for the eNAM platform. It allows us to support farmers by enabling them to receive their payments in a seamless manner and offer ease of doing business to them,” said Sunali Rohra, Executive Vice President, Government & Institutional Business & Gig Banking, HDFC Bank.
HDFC Bank is the second largest agency bank to Government of India for tax collections. The bank has been nominated as collecting banker for Direct Tax, and for GST payments besides GeM portal integration for collecting Caution Money deposit for procurement through the portal. The Bank also handles around 9% of total DBT payments to the beneficiaries of various government schemes like MGNREGA, PMAY, and PMSKY.
KV News
