Sign Up

Have an account? Sign In Now

Sign In

Forgot Password?

Don't have account, Sign Up Here

Forgot Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

Have an account? Sign In Now

Sorry, you do not have a permission to ask a question, You must login to ask question.

Forgot Password?

Need An Account, Sign Up Here
Sign InSign Up

Edufavor

Edufavor
Search
Ask A Question

Mobile menu

Close
Ask a Question
  • Home
  • Learn
  • Categories
  • Stories
  • Search
  • FAQs
Home / Questions /Q 1008
Next
Answered
Kirti
Kirti

Kirti

  • Delhi, India
  • 226 Questions
  • 325 Answers
  • 23 Best Answers
  • 1k Points
View Profile
Kirti
Asked: July 6, 20212021-07-06T23:46:47+05:30 2021-07-06T23:46:47+05:30In: UPSC PRELIMS

What are Negotiable Warehouse Receipts (NWRs).

What are Negotiable Warehouse Receipts (NWRs).

economy
  • 1
  • 1
  • 420
Answer
Share
  • Facebook

    1 Answer

    • Recent
    1. Ishu

      Ishu

      • Innovative
      • 370 Questions
      • 228 Answers
      • 176 Best Answers
      • 1k Points
      View Profile
      Best Answer
      Ishu Innovative
      2021-07-07T00:08:21+05:30Added an answer on July 7, 2021 at 12:08 am

       

      Negotiable Warehouse Receipts:

      • Warehouse Receipts are documents issued by warehouses to depositors against the commodities deposited in the warehouses, for which the warehouse is the bailee.
      • Warehousing (Development and Regulation) Act, 2007 (WDR Act) defines a “negotiable warehouse receipt” to mean a warehouse receipt under which the goods represented therein are deliverable to the depositor or order, the endorsement of which has the effect of the transfer of goods represented thereby and the endorsee for which takes a good title;”
      • NWRs can be traded, sold, swapped and used as collateral to support borrowing. 
      • Benefits of NWRs: o NWRs issued by registered warehouses help farmers to seek loans from banks against NWRs and this way NWRs become a prime tool of trade.
        • NWRs provide farmers with an instrument that allows them to extend the sales period of modestly perishable products well beyond the harvesting season.
        • When delivering the product to an accredited warehouse, the farmer obtains a Warehouse Receipt that can be used as collateral for short-term borrowing to obtain working capital. That way, the farmer does not need to sell the product immediately to ease cash constraints.
      • Warehousing Development and Regulatory Authority (WDRA) has notified 123 agricultural commodities including cereals, pulses, oil seeds, spices, rubber, tobacco, coffee etc for issuing negotiable warehouse receipts and also 26 horticultural commodities for cold storage
      • 1
      • Reply
      • Share
        Share
        • Share on Facebook
        • Share on Twitter
        • Share on WhatsApp
      • Cancel the best answer

    Leave an answer
    Cancel reply

    You must login or register to add a new answer.

    Related Questions

    • Describe Medieval Indian History.
    • What was the Economic Impact of British Rule in India?

    Sidebar

    Ask A Question

    Explore

    • Home
    • Learn
    • Categories
    • Stories
    • Search
    • FAQs

    Footer

    EDUFAVOR

    A destined place on Internet where one can find a company of good peoples, where everyone grows together, love each other and enjoy flavored learning.

    Important Links

    Privacy Policy

    FOLLOW US

    © 2021 Edufavor. All Rights Reserved.

    Insert/edit link

    Enter the destination URL

    Or link to existing content

      No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.