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e-Kisan Upaj Nidhi

Context:

Recently, the union Minister for Consumer Affairs, Food & Public Distribution, Commerce and Industry and Textiles launched ‘e-Kisan Upaj Nidhi’ (Digital Gateway) in New Delhi.

Relevance:

GS II: Government Policies and Interventions

Dimensions of the Article:

  1. e-Kisan Upaj Nidhi Platform: Facilitating Farmers’ Post-Harvest Storage
  2. About Warehousing Development and Regulatory Authority (WDRA):

e-Kisan Upaj Nidhi Platform: Facilitating Farmers’ Post-Harvest Storage

  • Digital Gateway: e-Kisan Upaj Nidhi is a digital platform operated by the Warehousing Development and Regulatory Authority (WDRA).
  • Objective: It simplifies the process for farmers to store their produce at any registered WDRA warehouse for up to 6 months, offering an attractive 7% interest per annum.
Key Features:
  • Digital Process:
    • The platform leverages digital technology for a streamlined and simplified process.
    • Aims to alleviate distress sales by providing farmers with viable post-harvest storage options.
  • Interest Rate:
    • Farmers opting for storage through this platform benefit from a competitive 7% interest per annum.

About Warehousing Development and Regulatory Authority (WDRA):

  • WDRA was established under the Warehousing (Development and Regulation) Act, 2007.
  • Consists of one Chairperson and two full-time Members.
Mission:
  • Establishment of a negotiable warehouse receipt system in the country.
  • Promotion of warehouse receipts as a primary tool of trade and facilitation of finance against it.
  • Improvement of the quality of lending portfolios for banks.
  • Enhancement of interest in lending against goods stored in warehouses.
Functions:
  • Issuance of negotiable warehouse receipts to help farmers secure loans from banks.
  • Mitigation of distress sales during peak marketing seasons.
  • Prevention of post-harvest storage losses.
Commodity Coverage:
  • WDRA covers 136 agricultural commodities for issuing negotiable warehouse receipts, including cereals, pulses, oilseeds, spices, rubber, tobacco, and coffee.
  • Additionally, 24 horticultural commodities are covered for cold storage, along with 9 non-agricultural commodities.

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