PIB Analysis 17-01-23
Digital financing against e-Negotiable Warehouse Receipts and way forward
- A conference on “Digital financing against e-Negotiable Warehouse Receipts and way forward” was held at NABARD Head Office in Mumbai.
- The purpose of the conference was to interact with bankers to increase post-harvest pledge finance against e-NWRs issued by warehouses registered by WDRA and evolve mechanisms that would improve ease of doing business.
- This would also help raise the post-harvest pledge financing from current levels.
- Loaning against e-NWRs has shown a steady growth over the years.
- During FY 2022-23 the loan figure has already crossed Rs.1500 crores.
- Digital financing against e-NWRs would help banks in extending hassle free loans against e-NWRs.
- This would help in increasing liquidity and improving farmers’ income.
- Banks also can expand their lending portfolio without undue exposure to additional risk.
- WDRA, being the regulator of the warehousing sector, always endeavors to improve the system to promote scientific warehousing in the country.
- WDRA is also the implementing agency to establish a negotiable warehouse receipt system for all commodities.
VARUNA- India France Bilateral Naval Exercise
- The 21st Edition of the Bilateral Naval Exercise between India and France – Exercise Varuna commenced on the Western Seaboard on 16 January 2023.
- While the bilateral exercise between the two navies were initiated in 1993, it was christened as ‘VARUNA’ in 2001.
- This edition will witness participation of indigenous guided missile stealth destroyer INS Chennai, guided missile frigate INS Teg, maritime patrol aircraft P-8I and Dornier, integral helicopters and MiG29K fighter aircraft.
- The French Navy will be represented by the aircraft carrier Charles De Gaulle, frigates FS Forbin and Provence, support vessel FS Marne and maritime patrol aircraft Atlantique.
- The exercise will be conducted over five days from 16 to 20 January 2023 and will witness advanced air defence exercises, tactical manoeuvres, surface firings, underway replenishment and other maritime operations.
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