WDRA & Punjab & Sind Bank Partner for Farmer Loans

New Delhi, Feb 9 (PTI) Warehousing Development Regulatory Authority (WDRA) has signed an MoU with Punjab & Sind Bank to assist farmers and traders in accessing loans at low interest rates.

The Memorandum of Understanding (MoU) will help farmers access loans at low interest rates and also raise awareness to fund against electronic Negotiable Warehouse Receipt (e-NWRs), the Ministry of Consumer Affairs, Food & Public Distribution said in a statement on Friday.

It also aims to boost outreach activities to improve agricultural pledge finance in India.

Punjab and Sind Bank is offering loans against e-NWRs with no collateral and attractive rate of interest.

The lender is extending loans of up to Rs 75 lakh and till Rs 5 crore for the agriculture sector and other category borrowers, respectively, the statement said.