SBI signs MoU with warehousing body for financing against e-NWR

State Bank of India (SBI), the biggest lender in India, on Monday, announced that it has exchanged a Memorandum of Understanding (MoU) with the Warehousing Development and Regulatory Authority (WDRA).

The MoU would encourage loans against electronic Negotiable Warehouse Receipts (e-NWR) issued by WDRA-registered warehouses. T. K. Manoj Kumar, Chairman of WDRA, and Dinesh Khara, Chairman of SBI, exchanged the MoU today at the SBI Corporate offices in Nariman Point.

The signing will boost warehouse registrations with WDRA and enhance pledge funding against e-NWRs. Additionally, SBI will finance and coordinate farmer awareness and capacity-building activities in collaboration with WDRA to help farmers efficiently manage and use the services provided by e-NWR.