Launched by Union Food and Consumer Affairs Minister Prahlad Joshi, the scheme provides a corpus of Rs 1000 crore to help farmers, especially small and marginal, access post-harvest loans using electronic warehouse receipts.
"The scheme will revolutionise agriculture credit systems and reduce banks' reluctance to provide loans to farmers," said Joshi.
Currently, farmers are compelled to sell their produce even if the price crashes to get money to invest in the next cycle of crops.
As this scheme takes off, farmers will get the opportunity to submit their produce and get issued electronic negotiable warehouse receipts (e-NWRs) by Warehousing Development and Regulatory Authority (WDRA) registered repositories.
It will act as collateral for banks to issue required loans.
هذه القصة مأخوذة من طبعة December 17, 2024 من The New Indian Express Vishakapatnam.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة December 17, 2024 من The New Indian Express Vishakapatnam.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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