In finance, a futures contract is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the forward price or delivery price. The specified time in the future when delivery and payment occur is known as the delivery date. Because it derives its value from the value of the underlying asset, a futures contract is a derivative.
An Agricultural Produce Market Committee (APMC) is a marketing board established by state governments in India to ensure farmers are safeguarded from exploitation by large retailers, as well as ensuring the farm to retail price spread does not reach excessively high levels. APMCs are regulated by states through their adoption of a Agriculture Produce Marketing Regulation (APMR) Act.
Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of December 31, 2023, Kotak Mahindra Bank Ltd has 1,869 branches, 3,239 ATMs, and branches in GIFT City and DIFC (Dubai)
Taobao is a Chinese online shopping platform. It is headquartered in Hangzhou and is owned by Alibaba. According to Alexa rank, it was the eighth most-visited website globally in 2021. Taobao.com was registered on April 21, 2003 by Alibaba Cloud Computing (Beijing) Co., Ltd.
Agricultural marketing covers the services involved in moving an agricultural product from the farm to the consumer. These services involve the planning, organizing, directing and handling of agricultural produce in such a way as to satisfy farmers, intermediaries and consumers. Numerous interconnected activities are involved in doing this, such as planning production, growing and harvesting, grading, packing and packaging, transport, storage, agro- and food processing, provision of market information, distribution, advertising and sale. Effectively, the term encompasses the entire range of supply chain operations for agricultural products, whether conducted through ad hoc sales or through a more integrated chain, such as one involving contract farming.
Market information systems are information systems used in gathering, analyzing and disseminating information about prices and other information relevant to farmers, animal rearers, traders, processors and others involved in handling agricultural products. Market information systems play an important role in agro-industrialisation and food supply chains. With the advance of information and communication technologies for development (ICTs) in developing countries, the income- generation opportunities offered by market information systems have been sought by international development organizations, non-governmental organizations (NGOs) and businesses alike.
RuPay is an Indian multinational financial services and payment service system, conceived and launched by the National Payments Corporation of India (NPCI) in 2014. It was created to fulfil the Reserve Bank of India's (RBI) vision of establishing a domestic, open and multilateral system of payments. RuPay facilitates electronic payment at all Indian banks and financial institutions. NPCI maintains ties with Discover Financial and JCB to enable the RuPay Card scheme to gain international acceptance.
Agriculture in India is highly susceptible to risks like droughts and floods. It is necessary to protect the farmers from natural calamities and ensure their credit eligibility for the next season. For this purpose, the Government of India introduced many agricultural social insurances throughout the country, the most important one of them being Pradhan Mantri Fasal Bima Yojana.
HDFC Securities Limited is a financial services intermediary and a subsidiary of HDFC Bank, a private sector bank in India. HDFC Securities was founded in year 2000 and is headquartered in Mumbai, with branches across major cities and towns in India.
Pradhan Mantri Krishi Sinchai Yojana is a national mission to improve farm productivity and ensure better utilization of the resources in the country. The budget of ₹53 billion (US$660 million) in a time span of one year 2015-2016 has been allocated to this scheme. The decision was taken on 1 July 2015 at the meeting of Cabinet Committee on Economic Affairs, approved with an outlay of 50000 crore for period of 5 years.
The Pradhan Mantri fasal bima yojana (PMFBY) launched on 18 February 2016 by Prime Minister Narendra Modi is an insurance service for farmers for their yields. It was formulated in line with One Nation–One Scheme theme by replacing earlier two schemes National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS) by incorporating their best features and removing their inherent drawbacks (shortcomings). It aims to reduce the premium burden on farmers and ensure early settlement of crop assurance claim for the full insured sum.
Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts. The mobile number of the device is required to be registered with the bank. The UPI ID of the recipient can be used to transfer money. It runs as an open source application programming interface (API) on top of the Immediate Payment Service (IMPS), and is regulated by the Reserve Bank of India (RBI). Indian Banks started making their UPI-enabled apps available on Google Play on 25 August 2016.
BHIM is an Indian mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, it is intended to facilitate e-payments directly through banks and encourage cashless transactions. It was named after Bhimrao Ambedkar.
Airtel Payments Bank is an Indian payments bank with its headquarters in New Delhi. The company is a subsidiary of Bharti Airtel. On 5 January 2022, it was granted the scheduled bank status by the Reserve Bank of India under the second schedule of RBI Act, 1934.
Rashtriya e-Market Services (ReMS) is established as a joint venture of Government of Karnataka (India) and NCDEX spot exchange limited with equal shareholding. It was conceived to blend public interest with the initiative of a private enterprise for establishing, operating, managing a specialized electronic trading platform called Unified Market Platform (UMP) for auctioning of farmer's produce. Department of Agricultural Marketing, ReMS and the Markets, work in close coordination to implement the reforms agenda of the State. ReMS has been striving to put in to place the best practices in the agricultural markets like Establishing Assaying facilities, cleaning and grading machinery in markets, capacity building for stakeholders etc.
Atal Bhujal Yojana is a groundwater management scheme launched by Prime Minister Narendra Modi on the 95th birth anniversary of former Prime Minister Atal Bihari Vajpayee, on 25 December 2019. The purpose of the scheme is to improve groundwater management in seven states of India.
The Department of Agriculture and Farmers' Welfare (DA&FW) is one of the three constituent department of Ministry of Agriculture and Farmers' Welfare, the other two being Department of Agriculture Research and Education (DARE) and Department of Animal Husbandry and Dairying. The Department is headed by Minister of Agriculture and Farmers' Welfare.
The Farmers' Produce Trade and Commerce Act, 2020 was an act of the Indian Government that permits intrastate and inter-state trade of farmers’ produce beyond the physical premises of Agricultural Produce Market Committee (APMC) market yards (mandis) and other markets notified under state APMC Acts.
Gramin Bhandaran Yojana, or Rural Godown Scheme, is an Indian government initiative to offer subsidies to individuals or organizations which build or repair rural godowns.
Open Network for Digital Commerce (ONDC), is a private non-profit Section 8 company established by the Department for Promotion of Industry and Internal Trade (DPIIT) of Government of India to develop open e-commerce. It was incorporated on 31 December 2021 with initial investment from Quality Council of India and Protean eGov Technologies Limited.
