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Mumbai, NFAPost: The electronic spot platform for agricultural commodities of BSE India – “BSE E-Agricultural Markets Ltd. (BEAM)” signed Agreement with Maharashtra State Cooperative Development Corporation (MSCTDC) to make use of the customized e-market solutions of BEAM to MSCTDC.

The Agreement which is signed at MSCTDC Nashik office would enable both parties to collaborate with meaningful outcomes for the smallholder farmers (SHFs) in the tribal region of the state. Both the companies would work closely with institutions that bring in significant inputs to strengthen the rural value chain in the country.

MSCTDC intends to leverage the strengths of BEAM to enhance its efficiency in disposal of the commodities procured from the tribal farmers under price support scheme (PSS) of the state.

Commenting on the development, MSCTDC Managing Director Nitin K Patil (IAS) said with this Agreement, MSCTDC would get access to market technologies of BEAM.

“This would help us in more competitive price discovery of our produce procured from the tribal farmers. This, in turn is likely to help us in serving our farmers in the tribal regions of the state better,” said Nitin K Patil.

MSCTDC MD Nitin K Latik and Babarao Suryavanshi, BEAM exchange MoU of BEAM with MSCTDC at Nashik.

BEAM CEO Rajesh Sinha said BSE set up BEAM with an objective to enhance access of its market technologies for the benefit of smallholder farmers.

“With our agreement with MSCTDC, BEAM has taken a significant step towards meeting this objective. Access to regulated and transparent marketplace, direct access to multiple buyers, receipt of cash directly into the account of beneficiary and reduction in intermediate costs are some of the major benefits of our platform. We would work closely with MSCTDC to bring in these strengths to the farmers in the tribal region of the state,” said Rajesh Sinha.

Jayram Rathod (GM Marketing) MSCTDC, Sopan Sambhare (Sr Manager Marketing) MSCTDC, and Babarao Suryawanshi, BEAM were present during the occasion.

About BSE

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.

BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.

Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.

BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.

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