IndusInd Bank to facilitate digital transactions on e-NAM

IndusInd Bank on Tuesday said it has been empanelled by the Small Farmers Agri Business Consortium (SFAC) to facilitate digital connection and settlement services on National Agriculture Market (e-NAM) portal for the transactions among farmers and traders across the nation.

“IndusInd Bank has been directly included with e-NAM stage to give safe and hassle-free payments, clearing and settlement services to the farmers and merchants,” the bank said in a statement issued here.

Under this game plan the bank will offer a variety of transaction services through advanced modes including multi-net banking, charge card, NEFT, RTGS, IMPS, and UPI to the buyer and seller of the agriculture produce, it said.

“At IndusInd Bank, it has been our undertaking to assume a significant part in advancing the reception of digital transactions in the country. Our relationship with e-NAM will work with secure and seamless digital payment services to the farmers and brokers,” IndusInd Bank Head. Purchaser Banking and Marketing Soumitra Sen said. He further said that digital payments will acquire more transparency in the sector and further empower the farmers.

Launched in 2016, with SFAC as the nodal implementing agency under the aegis of the Ministry of Agriculture and Farmer Welfare, Government of India, eNAM is an online trading platform that facilitates the online transaction of agricultural commodities of farmers and traders.