Haryana will bring in a new technology-driven system to ensure speedy payment to its paddy and cotton farmers against their produce.
Farmers and commission agents (Arthiyas) will be given co-branded debit cards fitted with electronic chip that will have information about farmers' produce including its weight and rate, a state agricultural marketing board officer said.
Once the sale is done, payment will be directly credited to farmers' accounts within 72 hours, he said.
"This new payment system is being launched for the first time for paddy and cotton crops in Haryana. It will ensure faster payment to farmers and will check any exploitation at the hands of commission agents," he said.
Earlier, the payments used to get delayed by 10-15 days. Now the system will ensure payment within 72 hours of crop sale, the officer added.
Twenty-one banks have been roped in for the launch of the new payment system.
"Five banks including Canara Bank, Axis bank, Allahabad Bank, PNB and Union Bank of India will be setting up their infrastructure, including card reading machines, at the mandis to facilitate transactions. Rest of banks will be issuing debit cards to farmers and commission agents," he said.
Besides, National Payment Corporation of India has also been made partner for facilitating payment under this new system, the officer said.
