The Warehousing Development Regulatory Authority (WDRA) has signed a memorandum of understanding (MoU) with Bank of India to provide funding against electronic negotiable warehouse receipts (e-NWRs). The agreement aims to facilitate farmers and traders by offering low-interest rate loans. The primary objective of the MoU is to raise awareness about funding opportunities with e-NWRs.
Warehousing Development Regulatory Authority (WDRA) on Friday signed an MoU with Bank of India to fund against e-NWRs (electronic negotiable warehouse receipts). In an official statement, WDRA signed a memorandum of understanding (MoU) with Bank of India to facilitate farmers and traders in providing low-interest rate loans.
“The MoU was signed with the intent of promoting awareness to fund against e-NWRs,” the statement said.
The agreement also aims to provide information to depositors about the benefits, besides doing further outreach activities to improve agricultural pledge finance in India.
