On December 11, 2020 BSE(formerly known as Bombay Stock Exchange), through its subsidiary BSE Investments Ltd., launched ‘BSE E-Agricultural Markets Ltd.(BEAM)’, an electronic spot platform for agricultural commodities. The platform will commence beta operations from December 11, 2020. BEAM is headquartered in Mumbai, Maharashtra. The CEO of BEAM is Rajesh Kumar Sinha.
Aim of BEAM– To boost the competitiveness of the Indian agricultural market by enhancing the strength of the BSE in financial markets, market technology and its vibrant ecosystem.
In line with PM’s Vision to create a single market
The platform serves as a national level, institutionalized, electronic, transparent commodity spot trading platform in accordance with the vision of the Prime Minister(PM) to create a ‘single market’.
Gist about BSE E-Agricultural Markets Ltd.(BEAM):
Value chains
It facilitates the spot transaction of agricultural commodities across value chains that consist of producers, intermediaries, ancillary services and consumers.
Customized Solutions
BEAM uses its state-of-the-art technology to provide customized solutions to farmers, traders, and stakeholders to enable them to purchase and sell various agri commodities in risk free and hassle free manner.
Other Benefits
i.It helps to reduce the cost of intermediation, to improve procurement efficiency, to enhance producers’ realization and more competitive consumer prices.
ii.It helps to eliminate the obstructions related to the procurement and trading.
iii.Farmers with BEAM can reach out to other markets in other states and auction their produce.
- This helps farmers and farmer collectives to discover best prices for their produce on the basis of the quality.
- It also helps them to build their capacity to help intermediaries, processors and exporters procure from states.
Recent Related News:
On July 13, 2020 BSE(formerly Bombay Stock Exchange) informed that it has signed a Memorandum of Understanding(MoU) with IIT Alumni Council to encourage the listing of startups and develop a ‘High Investor Depth’ platform for those startups.
About BSE(formerly known as Bombay Stock Exchange):
It is Asia’s first & world’s fastest Stock Exchange with a speed of 6 microseconds. It is one of India’s leading exchange groups
Established– 1875
Headquarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Shri Ashishkumar Chauhan
