- The National Bank for Agriculture and Rural Development (NABARD) has entered into a tie-up with the international news agency Thompson Reuters' Indian subsidiary to provide market information to farmers.
- Around 750 farmers in Tamil Nadu, including nearly 200 in Madurai district, will benefit from this initiative, which is being provided completely free of charge. The beneficiaries are drawn from NABARD-sponsored Farmers' Clubs
- The service would help farmers avoid distress sale of their produce by providing access to real-time information on markets. The information would be sent in local vernacular languages to help farmers easily comprehend the inputs.
FARMERS' PREFERENCES
- The RML is providing such services to private clients in thirteen States. NABARD decided to sponsor this service first in Tamil Nadu owing to the high penetration of mobile phones.
- The NABARD expects this service to help farmers get clarity on the prices their produce would fetch, when they should harvest crops and the likely weather conditions besides availability of crop insurance.
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