Explanation:

Statement 1 and 2: It was registered under Societies Registration Act 1860. The Society is also registered as Non-Banking Financial Institution by Reserve Bank of India. The Society is governed by Board of Management which is chaired, ex-officio, by Union Minister for Agriculture and Farmers Welfare as the President and the Secretary, Department of Agriculture, Cooperation and Farmers Welfare, is the ex-officio Vice-President.

Statement 3: SFAC is implementing the central schemes of Government of India namely VCA, EGCGS etc. Society is pioneer in organising small and marginal farmers as Farmers Interest Groups, Farmers Producers Organisation and Farmers Producers Company for endowing them with bargaining power and economies of scale. Recently the Society has been entrusted with the task of implementation of the critically important Delhi Kisan Mandi and National Agriculture Market Scheme on e-platform to progressively free agricultural trade and offer price discovery to farmers.