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Cashless payments on e-NAM
December 19 , 2017
2403 days
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- The government has engaged private lender ICICI Bank to enable online payments at 470 mandis integrated with national portal of electronic National Agriculture Market (e-NAM).
- At present, e-NAM participants are doing payments through traditional ways via bank branches, debit cards and net banking.ICICI Bank will enable BHIM (Bharat Interface for Money) and Unified Payments Interface (UPI) on the e-NAM portal for making cashless payments.
- The e-NAM model aims at revolutionising agri markets by ensuring better price discovery, bringing in transparency and competition to enable farmers to get improved remuneration for their produce moving towards ‘One Nation, One Market’.
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