Small Farmers’ Agri-Business Consortium Current Affairs
The 22nd meeting of Board of Mangement (BOM) of Small Farmers’ Agri-Business Consortium (SFAC) was held in New Delhi. It was chaired by Union Agriculture and Farmers Welfare Minister Radha Mohan Singh. Various activities of SFAC were reviewed during meeting.
Small Farmers Agribusiness Consortium
SFAC is an autonomous society promoted by Union Ministry of Agriculture, Cooperation and Farmers’ Welfare. It was established in 1994 and is registered under Societies Registration Act 1860. It is also registered as Non-Banking Financial Institution (NBFC) by Reserve Bank of India (RBI).
Its fundamental objective is to link small farmers to agricultural value chain, which includes investments, technology and markets in association with private, corporate or cooperative sector. It also provides capital support in form of Venture Capital Assistance (VCA) and Project Development Facility (PDF) for economic inclusion of small and marginal farmers in agribusiness activities.
It also promotes farmer producer organisations (FPOs) and their integration in agriculture value chain. Recently it was entrusted with task of implementation of critically important Delhi KisanMandi and National Agriculture Market Scheme (NAM) on e-platform to progressively free agricultural trade and offer price discovery to farmers.