Bank has been directly integrated with e-NAM platform
Mumbai, February 15 IndusInd Bank on Tuesday announced that it has been empanelled by the Small Farmers Agri–Business Consortium (SFAC) to facilitate digital collection and settlement services on National Agriculture Market (e-NAM) portal for transactions between farmers and traders across the country. “IndusInd Bank has been directly integrated with e-NAM platform to provide safe and hassle-free payments, clearing, and settlement services to the farmers and traders,” it said in a statement. Under this arrangement the bank will offer an array of transaction services through digital modes including multi-net banking, debit card, NEFT, RTGS, IMPS, and UPI to the buyer and seller of the agriculture produce, it further said. As of January 2022, there are over 1.7 crore farmers and more than 1.8 lakh traders who are registered on eNAM and have benefitted from the digital marketplace. The total value of agri-produce traded on eNAM is about ₹1.72 lakh crore.