Consider the following statements regarding the Small Farmers Agribusiness Consortium 1 nb...........

Economic Affairs Agricultural Policy and Growth

Download Solution PDF

Consider the following statements regarding the Small Farmers Agribusiness Consortium:

1. It is a Non-Banking Financial Institution.

2. The governing board is headed by the Union Minister for Agriculture and Farmers Welfare.

3. This society is implementing the e-NAM scheme.

Which of the statements given above is/are correct?

2 and 3 only

1 and 2 only

1 and 3 only

1, 2 and 3

छोटे Courses बड़े Results

Master Agricultural Policy and Growth

Prepare through Micro-courses

Try Now

Explanation:

Small Farmers Agribusiness Consortium (SFAC) is an Autonomous Society promoted by Ministry of Agriculture, Cooperation and Farmers’ Welfare, Government of India. 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 Hon’ble Union Minister for Agriculture and Farmers Welfare as the President and the Secretary, Department of Agriculture, Cooperation and Farmers Welfare, Government of India, is the ex-officio Vice-President.

The main functions of SFAC are:

(i) Promotion of development of small agribusiness through Venture Capital Assistance scheme;

(ii) Helping formation and growth of Farmer Producer Organizations (FPOs) / Farmer Producer Companies (FPCs);

(iii)Improving availability of working capital and development of business activities of FPOs/FPCs through Equity Grant and Credit Guarantee Fund Scheme;

(iv)Implementation of National Agriculture Market (e-NAM) Electronic Trading platform