Web portal WDRA and e-NWR system launched

Q.  Web Portal of Warehousing Development and Regulatory Authority was launched with which system by Ministry of Consumer Affairs, Food and Public Distribution?
- Published on 27 Sep 17

a. Electronic Negotiable Warehouse Receipt System
b. e-NWR system
c. Electronic Navigation Warehouse Receipt System
d. Both a and b are the same

ANSWER: Both a and b are the same
 
Web portal WDRA and e-NWR system launchedShri Ram Vilas Paswan, Union Minister of Consumer Affairs, Food and Public Distribution today launched the Web Portal of Warehousing Development and Regulatory Authority (WDRA) & “Electronic Negotiable Warehouse Receipt (e-NWR) System” in New Delhi.

Addressing the gathering on the occasion Shri Paswan lauded the initiatives taken by the WDRA in simplifying the Warehouse Registration Rules, digitizing the entire process of registration, monitoring and surveillance as well as creation and management of Negotiable Warehouse Receipts (NWRs) in electronic form through two repositories.

The e-NWRs would have no chances of any tempering, mutilation, fudging, loss or damage and with no possibility of any multiple financing.

Hence, these NWRs will not only facilitate an easy pledge financing by banks and other financial institutions but also smooth trading on various trading centres like commodity exchanges, electronic National Agriculture Markets (e-NAM) and other electronic platforms.

The e-NWRs will save expenditure in logistics as the stocks could be traded through multiple buyers without physical movement and can be even split for partial transfer or withdrawal.

These initiatives would revolutionise the marketing of agricultural commodities and help farmers realize better price for their produce which will be a step towards doubling the farmers’ income by 2022 as well as Digital India mission as envisaged by India's PM.

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