Select Page

PUNE: In a bid to empower farmers and traders with accessible financing options, the Warehousing Development Regulatory Authority (WDRA) has sealed a Memorandum of Understanding (MoU) with Punjab & Sind Bank (PSB).

The collaboration, aimed at bolstering awareness and accessibility to low-interest loans backed by electronic Negotiable Warehouse Receipts (e-NWRs), seeks to improve agricultural pledge finance in India.

Under the terms of the MoU, PSB is now offering loans against e-NWRs sans collateral, coupled with good interest rates.

Farmers can secure loans up to Rs 75 lakh under the agricultural sector, while other borrowers can avail loans up to Rs 5 crores.

During the signing ceremony, WDRA delivered a presentation showing the significance of post-harvest pledge financing through e-NWRs to enhance rural credit accessibility.

Representatives from PSB shed light on the hurdles encountered by lending institutions in this domain.

  • Published On Feb 11, 2024 at 12:10 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETBFSI App

  • Get Realtime updates
  • Save your favourite articles

icon g play

icon app store

Scan to download App
bfsi barcode

Share it on social networks