Warehousing Development Regulatory Authority and Punjab & Sind Bank Sign Memorandum of Understanding

  • The Warehousing Development Regulatory Authority (WDRA) and Punjab & Sind Bank (PSB) have signed a Memorandum of Understanding (MoU) to facilitate low interest rate loans to farmers. 
  • The MoU aims to promote awareness about funds against Electronic Negotiable Warehouse Receipts (e-NWRs) and improve agricultural pledge finance in India. 
  • PSB offers loans against e-NWRs with no collateral and attractive interest rates, with up to Rs. 5 crores loans extended under agriculture sector. 
  • WDRA presented the importance of post-harvest pledge financing using e-NWRs for improving rural credit. 
  • The bank representatives also highlighted the challenges faced by lending institutions in this sector.

 

Posted in Current Affairs.