1. After tea auction fiasco with new system, board shifts back to old one

After tea auction fiasco with new system, board shifts back to old one

The Tea Board has decided to temporarily shift the post-auction module of the pan-India tea auction to the old software, following frequent glitches in the new system, sources said.

By: | Kochi | Updated: October 18, 2016 7:04 AM
Tea auction in Kochi has been suspended for the last four weeks and the effort to restart the process last Friday failed. Tea auction in Kochi has been suspended for the last four weeks and the effort to restart the process last Friday failed.

The Tea Board has decided to temporarily shift the post-auction module of the pan-India tea auction to the old software, following frequent glitches in the new system, sources said.

Buyers were not getting delivery order after paying money and the trade was stuck with more than a million kilograms of tea piled up in warehouses due to glitches in the auction software.Tea auction in Kochi has been suspended for the last four weeks and the effort to restart the process last Friday failed.

Ajith M K, chairman of Cochin Tea Traders Association, told FE that the Tea Board has agreed to shift the post -auction module ,where delivery orders are created, to the old software until the problems are sorted out in the new software.

“In the e-auction which is operated by NSE , delivery orders should be generated within two hours but they were taking 2-3 days. Moreover, these orders are supposed to be digitally signed. Numerous complaints were coming in where payments have been made to the wrong seller or payment is less or more than the actual amount,” he added.

The state-run Tea Board had decided to adopt a new auction process in order to overcome the constraints of the existing system and increase participation of buyers and sellers in the auctioning process.

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