Direct payment of crop procurements to Farmers’ bank accounts: FCI
The Food Corporation of India on Monday (08 March 2021) announced that the payments for the crop procurements will be directly transfered to Farmers’ bank account from now.
Till now, the payments were being credited to the accounts of the commission agents [Arthiyas], who further transferred the money to the farmers’ account, keeping their 2.5% commission. From now onwards the commission will be credited to the agents’ accounts and the balance amount in the farmers’ accounts directly. Ensuring no loss to both entities.