The Foundation Day of the Warehousing Development and Regulatory Authority (WDRA) was celebrated on the 20th November 2014 at PHD House, New Delhi. Senior officers of the Government of India and Central Warehousing Corporation and State Warehousing Corporations attended the Function. The Minister of Consumer Affairs, Food and Public Distribution, Shri Ram Vilas Paswan was the Chief Guest of the Function. Shri Paswan highlighted the importance of the role of the WDRA in the development of the warehousing sector in the country especially the importance of the Negotiable Warehouse Receipts (NWRs) as an instrument of trade and finance. He informed that the WDRA has undertaken a transformation plan which envisages wide ranging changes in approach of the WDRA and review of its rules and regulations.
The Minister of State for Consumer Affairs, Food and Public Distribution, Shri Raosaheb Patil Danve could not attend the function due to other engagements but he sent his message for the function and congratulated the farmers, warehouse mangers and banks who have been awarded by the WDRA for their significant achievements in promoting NWRs.
Shri Dinesh Rai, Chairman, WDRA highlighted the progress and problems of the WDRA. He told that the NWR system is a very good scheme for the farmers which encourages them to store their agricultural produce in scientific warehouses registered with the WDRA. This will eliminate distress sale among farmers and they will be able to get loan from banks on negotiable warehouse receipts issued by the registered warehouses. He informed that on the direction of the Prime Minister's Office, a Committee has been constituted under his Chairmanship to suggest measures to strengthen the negotiable warehouse receipt system in the country and to make NWR attractive to the farmers and other stakeholders. It is hoped that this will promote a robust NWR system among farmers in the country. He also stated the WDRA has undertaken a transformation plan.
On the Occassion Shri Paswan distributed prizes to the farmers, warehouse managers and banks who have contributed significantly in promoting the Negotiable Warehouse Receipt system as well as pledge financing of NWRs to the farmers.
The Secretary, Department of Food and Public Distribution, Shri Sudhir Kumar appreciated the initiatives taken by the WDRA and its Chairman for promoting pledge financing against NWRs for small and marginal farmers storing their produce in small warehouses of Primary Agricultural Cooperative Credit Societies.
The Minister of State for Consumer Affairs, Food and Public Distribution, Shri Raosaheb Patil Danve could not attend the function due to other engagements but he sent his message for the function and congratulated the farmers, warehouse mangers and banks who have been awarded by the WDRA for their significant achievements in promoting NWRs.
Shri Dinesh Rai, Chairman, WDRA highlighted the progress and problems of the WDRA. He told that the NWR system is a very good scheme for the farmers which encourages them to store their agricultural produce in scientific warehouses registered with the WDRA. This will eliminate distress sale among farmers and they will be able to get loan from banks on negotiable warehouse receipts issued by the registered warehouses. He informed that on the direction of the Prime Minister's Office, a Committee has been constituted under his Chairmanship to suggest measures to strengthen the negotiable warehouse receipt system in the country and to make NWR attractive to the farmers and other stakeholders. It is hoped that this will promote a robust NWR system among farmers in the country. He also stated the WDRA has undertaken a transformation plan.
On the Occassion Shri Paswan distributed prizes to the farmers, warehouse managers and banks who have contributed significantly in promoting the Negotiable Warehouse Receipt system as well as pledge financing of NWRs to the farmers.
The Secretary, Department of Food and Public Distribution, Shri Sudhir Kumar appreciated the initiatives taken by the WDRA and its Chairman for promoting pledge financing against NWRs for small and marginal farmers storing their produce in small warehouses of Primary Agricultural Cooperative Credit Societies.
