Why is it in the news?
- The Ministry of Consumer Affairs, Food & Public Distribution has launched ‘e-Kisan Upaj Nidhi’.
More about the news
- ‘e-Kisan Upaj Nidhi’ is a Digital Gateway initiative introduced by the Warehousing Development and Regulatory Authority (WDRA).
- The primary objective of ‘e-Kisan Upaj Nidhi’ is to assist farmers in obtaining post-harvest loans from banks against their stocks stored in WDRA registered warehouses.
- Through this initiative, farmers can avail loans against electronic negotiable warehouse receipts (e-NWRs), which are issued for the commodities stored in registered warehouses.
| About WDRA
· Established in 2010 under the WDRA Act, 2007. · Aims to establish a Negotiable Warehouse Receipt (NWR) system for all commodities through a network of registered warehouses. · Aims to make NWR a primary tool of trade and facilitate finance against it. · Enables banks to improve lending portfolio quality and interest in lending against goods stored in registered warehouses. · The WDRA (Negotiable Warehouse Receipts) Regulations, 2011 lay down rules for NWRs issuance, surrender, and other related matters. Warehouse Receipts · Warehouse receipts are written or electronic acknowledgments issued by a warehouseman or authorized representative for the storage of goods not owned by the warehouseman. · e-NWRs were introduced in 2017 by WDRA. · Guidelines for Central Pool Stock: FCI, NAFED, and National Horticulture Board have issued guidelines stipulating that Central Pool Stock should be stored in WDRA registered warehouses.
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