MoU signed to facilitate low interest rate loans to farmers

• Produce Marketing Loan features Nil processing fee
• No Additional collateral and attractive interest rates

To facilitate farmers in providing low interest rate loans, Warehousing Development Regulatory Authority signed Memorandum of Understanding with a nationalized bank in an event.

The MoU was signed on 16 January, with the intent of promoting awareness about the new loan product called Produce Marketing Loan to exclusively fund against e-NWRs (electronic Negotiable Warehouse Receipt) with features such as Nil processing fee, No Additional collateral and attractive interest rates.

The MoU is aimed to provide information to depositors of the benefits, besides doing further outreach activities to improve agricultural pledge finance in India.