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breaking news Sbi signs memorandum of understanding with warehousing organization for financing against E-Nwr

James2 weeks ago
15 1 minute read
breaking news Sbi signs memorandum of understanding with warehousing organization for financing against E-Nwr


The MoU would encourage lending against Electronic Negotiable Warehouse Receipts (e-NWR) issued by WDRA-registered warehouses. TK Manoj Kumar, Chairman of WDRA, and Dinesh Khara, Chairman of SBI, exchanged the Memorandum of Understanding today at the offices of SBI Corporate at Nariman Point.


The State Bank of India (SBI), the largest lender in India, announced on Monday that it had exchanged a memorandum of understanding (MoU) with the Warehousing Development and Regulatory Authority (WDRA).

The MoU would encourage lending against Electronic Negotiable Warehouse Receipts (e-NWR) issued by WDRA-registered warehouses. TK Manoj Kumar, Chairman of WDRA, and Dinesh Khara, Chairman of SBI, exchanged the Memorandum of Understanding today at the offices of SBI Corporate at Nariman Point.

The signing will increase warehouse registrations with the WDRA and improve funding for pledges against e-NWRs. In addition, SBI will fund and coordinate farmer awareness and capacity building activities in collaboration with WDRA to help farmers manage and effectively use the services provided by e-NWR.

To ensure operation and maintenance standards, the MoU will also facilitate joint inspections of funded warehouses.

SBI Chairman Dinesh Khara commented on the signing, “We are happy and privileged to contribute to India’s agri-economy and support government initiatives.”

“Our goal is to uplift about 60% of India’s population engaged in agriculture by empowering them through our value-added offerings. Through this collaboration, we will provide all necessary assistance to the agricultural sector by increasing their funding,” he added. .

(Edited by : Priyanka Deshpande)


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James2 weeks ago
15 1 minute read
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