e-NWR Pledge Financing Growth: Parliamentary Panel Report

New Delhi, Dec 19 (PTI) A parliamentary panel has appreciated the growth in pledge financing against electronic Negotiable Warehouse Receipt (e-NWR), which stood at Rs 2,442 crore during the last fiscal.

On Tuesday, Standing Committee on Consumer Affairs, Food and Public Distribution presented its report in Parliament on 'Functioning of Warehousing Development and Regulatory Authority (WDRA).

The authority launched e-NWR on September 26, 2017 to be issued by registered warehouses on electronic repository system.

"The Committee note that pledge finance against e-NWRs has been Rs 732 crore, Rs 1,492 crore and Rs 2,442 crore for the years 2020-21, 2021-22 and 2022-23, respectively. Further, it has reached to Rs 2,081 crore till November 30 for the year 2023-24.

"The committee are delighted to observe the growth of pledge financing against e-NWR for last three years and hope that loan values against e-NWR will maintain the pace of manifold increase in future as well," the report said.

The panel also asked WDRA to continue its efforts to create an environment for promoting e-NWR and pledge financing.

The WDRA was constituted on October 26, 2010, as per the provisions of Warehousing (Development and Regulation) Act, 2007.

One of the main objectives of WDRA is Licensing and Monitoring of Warehouses as per the provisions of 2007 Act and Warehousing (Development & Regulation) Registration of Warehouses Rules, 2017.

The committee noted that since inception, WDRA has registered 6,929 warehouses with storage capacity of 411 lakh tonne, of which the valid warehouse registration number is 4,916 with storage capacity of 363 lakh tonne as in November this year.