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With reference to 'Warehouse receipts' in India, consider the following statements:
1. These are negotiable instruments in India.
2. They are utilized in Future markets.
3. They are regulated by RBI.
Which of the statements given above is/are correct?
  • a)
    1 and 2 only
  • b)
    1 and 3 only
  • c)
    2 and 3 only
  • d)
    1, 2 and 3
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
With reference to Warehouse receipts in India, consider the following ...
Warehouse Receipts (WRs) are issued by warehouses on deposit of goods with them. These receipts allow for transferring the title of goods without physically moving them. Warehouse receipts may be negotiable or non-negotiable. Warehouse receipts are made negotiable under the Warehouse (Development and Regulation) Act, 2007. The receipts are used in the futures markets to guarantee the quantity and quality of a particular commodity being stored within an approved facility. They are regulated by the Warehousing Development and Regulatory Authority (WDRA).
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With reference to Warehouse receipts in India, consider the following statements:1. These are negotiable instruments in India.2. They are utilized in Future markets.3. They are regulated by RBI.Which of the statements given above is/are correct?a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?
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