Electronic Negotiable Warehouse Receipt ( e-NWR )
what is this?
•Through Negotiable Warehouse Receipt, ownership of agricultural produce stored in the warehouse can be transferred without physical transfer.
• Since these warehouse receipts are negotiable, banks can provide loans to farmers and traders against these receipts.
Background
• It may be recalled that the Negotiable Warehouse Receipt System was introduced in the year 2011 for the farmers and traders of agricultural products.
• Under the Warehouse (Development and Regulation) Act, 2007 Generation and regulation of Negotiable Warehouse Receipts Warehousing Development and Regulatory Authority.
Benifits of the scheme
• Simplifying warehouse registration rules, registration with the help of Electronic Negotiable Warehouse Receipt e-NWR system and web portal of Warehousing Development and Regulatory Authority Digitization of the entire process will help.
• Management of Negotiable Warehouse Receipts through two online funds and monitoring of warehouses will also be done by them.
• With the help of e-NWR, banks will be able to provide priority based credit to farmers easily.
• Along with this, electronic negotiable warehouse receipt can alsobe bought and sold in electronic platforms like commodity exchanges, electronic agriculture markets- e-NAM.
• With the help of e-NWR, agricultural products kept in warehouses can be traded by multiple buyers without shifting,there by reducing the cost of logistics.
• Agriculture through Electronic Negotiable Warehouse Receipt System Parts of agricultural products kept in trade warehouse of products You will also be able to transfer or make partial withdrawals.
