- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
WDRA Signs Pact With SBI To Initiate Low-interest Rate Loan To Farmers
The Produce Marketing Loan intends to regulate financial aid against the electronic Negotiable Warehouse Receipts (e-NWRs), also, there will be no additional collateral, interest rates and processing fee
Photo Credit :
Warehouse Development Regulatory Authority (WDRA) has signed a pact with the State Bank of India (SBI) to facilitate low-interest rate loans to farmers along with the aim to increase awareness regarding the newly launched Produce Marketing Loan.
The Produce Marketing Loan intends to regulate financial aid against the electronic Negotiable Warehouse Receipts (e-NWRs), also, there will be no additional collateral, interest rates and processing fee.
It will also help to source information for depositors related to benefits along with outreach activities to enhance the agricultural pledge finance in the country.
Ministry of Consumer Affairs released a statement on Monday stating that the product is foreseen to have far-reaching outcomes concerning the acceptance of E-Negotiable Warehouse Receipt commonly called as e-NWRs for small and marginal farmers.
The Ministry added that with the combined effect of inherent security and negotiability of the e-NWR system, the Produce Marketing Loan will improve rural liquidity and boost farmers income in the coming years.