Factly #1375 Small Farmers Agribusiness Consortium(SFAC) (21st March,2020)

News:Recently,the Small Farmers Agribusiness Consortium(SFAC) has signed an MoU with the Agricultural and Processed Food Products Export Development Authority(APEDA) to bring in better synergy in the agricultural activities.

Facts:

About SFAC:

• Small Farmers Agribusiness Consortium(SFAC) is an Autonomous Society promoted by the Ministry of Agriculture,Government of India.It was registered under Societies Registration Act,1860 in 1994.

• It is governed by the Board of Management which is chaired by a) Union Minister for Agriculture- President and b) Secretary, Department of Agriculture- Vice-President.

Functions of SFAC:

• Promotion of development of small agribusiness through Venture Capital Assistance (VCA) Scheme

• Helping formation and growth of Farmer Producer Organizations (FPOs) / Farmer Producer Companies(FPCs)

• Improving availability of working capital and development of business activities of FPOs/FPCs through Equity Grant and Credit Guarantee Fund Scheme

• Implementation of National Agriculture Market (e-NAM) Electronic Trading platform.

Additional information:

About APEDA:

• APEDA was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act passed by the Parliament in 1985.

• It comes under the Ministry of Commerce and Industries,Government of India.