Cash less Agro-Auction Platform for India

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Suvechcha Sengupta & Sanjeev Panandikar
Conference Name
International Research Conference 2017
Conference From
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Conference Venue
The Taj Mahal Palace Hotel, Mumbai
  • Abstract

Strategically, demonetization was intended to flush out black money and take care of fake currency in the Indian monetary system. It may prove effective and beneficial in curtailing or limiting certain menaces but on the other side it has affected Indian farmers who were about to reap the fruits of a good harvest post the two years drought scenario. The economy almost came to a standstill. The consumers had cash in their bank accounts and farmers were ready with their produce but transactions could not take place due to the instrument called cash. The decent way out, is cashless transaction that can be a lasting solution. In this paper, attempt has been made to discuss the strategies available to both the buyers and producers in the game of agricultural marketing. The paper contemplates the implementation of dynamic ‘Auctions and Biddings’, which would be beneficial to all stake holders by elimination of the dominance of intermediary and making the trade transparent. It also discusses the dynamic models for online biddings. The only hindrance may be due to the availability of electricity, high security in e-transactions and above all the acceptability of modern technology among buyers and sellers.