CCI e-pays Rs.556 crore to Telangana state cotton farmers

Hyderabad: The online payment mechanism for cotton farmers introduced by the Telangana Government this season has made a mark. The Cotton Corporation of India has paid Rs. 556 crore for the produce bought from farmers in the State so far.

The Marketing Department has introduced a software at the collection centres and asked the farmers to register their names, providing their banking account details and personal identities.

“We introduced the software this year. We have witnessed purchases worth Rs. 556 cr from the CCI,” a statement from the department said on Thursday.

As many as 44 marketyards in the State were brought under the e-NAM (National Agriculture Market) umbrella, which would help farmers find better price for their produce, it said.

The government is expecting a total turnover of Rs. 30,000 crore through transactions between traders and commission agents this year.

http://www.thehindubusinessline.com/economy/agri-business/in-telangana-online-payments-to-cotton-farmers-at-rs-556-cr/article9986588.ece