Bombay Stock Exchange (BSE) Ltd. has launched an electronic spot platform, “BSE E-Agricultural Markets Ltd (BEAM)”, for agricultural commodities through its subsidiary BSE Investments Ltd. The platform aims 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.
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- BEAM will function as a national level, institutionalised, electronic, transparent commodity spot trading platform in line with the Prime Minister’s vision to create a single market.
- With the help of BEAM, farmers in one state will be able to reach out to markets in other states and auction their produce.
- The farmers will be able to discover the best prices for their products based on the quality, as well as build capacity to help intermediaries, processors and exporters procure from states.
- It helps to reduce the cost of intermediation, to improve procurement efficiency, to enhance producers’ realization and more competitive consumer prices.
- It helps to eliminate the obstructions related to procurement and trading.
Important takeaways for all competitive exams:
- BSE is Asia’s first & world’s fastest Stock Exchange with a speed of 6 microseconds. It is one of India’s leading exchange groups
- BSE Established: 1875.
- BSE Headquarters: Mumbai, Maharashtra.
- MD and CEO of BSE: Ashish Kumar Chauhan.