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Saturday, December 09, 2023
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Paswan Launches WDRA Website

New Delhi: Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan launched the Web Portal of Warehousing Development and Regulatory Authority (WDRA) at a function organized at Siri Fort Auditorium, New Delhi. Senior officials of the Government of India, Central and State Warehousing Corporations, representatives from leading Warehousing Services Providers, Banks, Commodities Exchanges and Progressive Farmers also participated in large number.


Addressing the gathering on the occasion Paswan lauded the initiatives taken by the WDRA in simplifying the Warehouse Registration Rules, digitizing the entire process of registration, monitoring and surveillance as well as creation and management of Negotiable Warehouse Receipts (NWRs) in electronic form through two repositories.


Paswan informed that the eNWRs would have no chances of any tempering, mutilation, fudging, loss or damage and with no possibility of any multiple financing. Hence, these NWRs will not only facilitate an easy pledge financing by banks and other financial institutions but also smooth trading on various trading centres like commodity exchanges, electronic National Agriculture Markets (eNAM) and other electronic platforms. He felt that these eNWRs will save expenditure in logistics as the stocks could be traded through multiple buyers without physical movement and can be even split for partial transfer or withdrawal.


Paswan expressed that these initiatives would revolutionise the marketing of agricultural commodities and help farmers realize better price for their produce which will be a step towards doubling the farmers’ income by 2022 as well as Digital India mission as envisaged by the Hon’ble Prime Minister.


Minister of State for Consumer Affairs, Food and Public Distribution, C R Choudhary and Secretary (Food and Public Distribution), Preeti Sudan also attended the function as Guest of Honour and addressed the gathering.


G.C. Chaturvedi, Chairman, WDRA presented an overview of various steps taken by the WDRA under its Transformation Plan to fully digitize its functioning. He indicated that the whole purpose of simplifying the processes and moving towards online system would enhance, WDRA’s regulatory functions and bring greater fiduciary trust among banks, depositors and the trade on the e-NWR system.


Coinciding with the ongoing Swachhta Pakhwada, Paswan also administered the Swachhta pledge to the gathering and requested everyone for their wholehearted participation in keeping their surrounding clean and realize the dream of a Swachh Bharat.