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WDRA and SBI Signed an Agreement to Support Farmers

Published on January 18, 2023
Current Context: A Memorandum of Understanding (MoU) between the Warehousing Development and Regulatory Authority (WDRA) and the State Bank of India (SBI) has been linked to assisting farmers in obtaining loans with low-interest rates.
WDRA and SBI Signed an Agreement to Support Farmers
  • The MoU was signed to raise awareness of the new loan product known as "Produce Marketing Loan" to fund against e-NWRs (electronic Negotiable Warehouse Receipts), which has features like zero processing fee, no additional collateral, and competitive interest rates.
  • In addition to the inherent security and negotiability of the e-NWR system, the "Produce Marketing Loan" will improve rural liquidity and boost farmers' income.
  • The National Bank for Agriculture and Rural Development (NABARD) in Mumbai, Maharashtra, hosted a seminar on "Digital financing against eNegotiable Warehouse Receipts and way ahead.
  • During FY 2022–2023, loans secured by e-NWRs exceeded Rs 1,500 crore.

Question:

Q.1 WDRA and which bank signed an MoU to support farmers recently.
a. SBI

b. HDFC
c. ICICI
d. Axis bank
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