Warehousing Development Regulatory Authority signs MoU with SBI
Tags: Economy/Finance National News
Warehousing Development Regulatory Authority (WDRA) signed a memorandum (MoU) of understanding with State Bank of India to help farmers in getting low interest rate loans on 16 January.
An overview of the news
The objective of the MoU is to provide information on the benefits to the depositors besides carrying out further activities to improve agricultural finance in India.
It is envisaged that the product will have far reaching consequences with regard to acceptance of e-NWRs (electronic Negotiable Warehouse Receipt) among small and marginal farmers.
Combined with the inherent security and negotiability of the e-NWR system, the Produce Marketing Loan will go a long way in improving rural liquidity and increasing farmers income.
Warehousing Development Regulatory Authority (WDRA)
WDRA was constituted on 26 October, 2010 under the Warehousing (Development and Regulation) Act, 2007.
It is a Statutory Authority under the Department of Food and Public Distribution, Government of India.
The Authority has its Headquarters in New Delhi.
The Authority consists of a Chairperson and two Members appointed by the Central Government.
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