e-Kisan Upaj Nidhi

e-Kisan Upaj Nidhi

News: The Consumer Affairs, Food and Public Distribution has launched the ‘e-Kisan Upaj Nidhi’.

About:
• The e-Kisan Upaj Nidhi is a digital gateway initiative launched by the Warehousing Development and Regulatory Authority (WDRA) in India. The platform aims to facilitate farmers in obtaining post-harvest loans from banks against their stocks stored in WDRA registered warehouses. The loans are provided against electronic negotiable warehouse receipts (e-NWRs).

Key features:
• Ease of Access: The platform simplifies the process for farmers to store their produce at any registered WDRA warehouse for a period of 6 months.
• Affordable Interest Rates: Loans are provided at an interest rate of 7% per annum.
• Prevention of Distress Sales: The platform can prevent distress sales by farmers who often have to sell their entire harvest at cheaper rates due to poor post-harvest storage opportunities.
• Security Deposit Reduction: The security deposit charges at WDRA registered warehouses will soon be reduced to encourage more farmers, especially small farmers, to utilize the warehouses and enhance their income.