UPSC Exam  >  UPSC Questions  >  Consider the following statements regarding N... Start Learning for Free
Consider the following statements regarding Negotiable warehouse receipt (NWR).
  1. The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically.
  2. NABARD regulates the entire operation under NWR.
  3. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.
Which of the above statements is/are correct?
  • a)
    1 only 
  • b)
    1, 2 
  • c)
    1, 3 
  • d)
    2, 3
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding Negotiable warehouse recei...
  • The negotiable warehouse receipt (NWR) system was launched in 2011 allowing the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. These receipts are issued in negotiable form, making them eligible as collateral.
  • This has been enabled by enabling the financing of warehouse receipts through the Warehouse (Development and Regulation) Act, 2007. The Warehousing Development and Regulatory Authority (WDRA) regulates the entire operation under NWR. 
     
Government launches negotiable warehousing receipts in e-format.
Electronic-Negotiable Warehouse Receipt (e-NWR) will help farmers/FPOs to have access to a large number of buyers across the country.
Salient features of e-NWR
  • An e-NWR is available only in electronic form.
  • The single source of information for the e-NWR is the repository system where e-NWR is issued by registered warehouses.
  • Confidentiality, integrity and availability of the e-NWR information is provided by the Repository system.
  • An e-NWR has time validity.
  • All e-NWRS can be traded through off-market or on-market in Commodity Exchanges platforms.
  • An e-NWR can be auctioned under certain conditions such as loan not repaid, on expiry and delivery not taken, and on likely damage or spoilage of the commodity in the warehouse.
  • e-NWR can be transferred fully or in part.
Benefits of e-NWR system: 
  • Avoidance of forgery/loss/tamper/mutilation of a physical NWR.
  • Avoidance of multiple financing against the same NWR.
  • Reduction of monitoring costs and building credibility amongst market participants.
  • Market participants to have secured accessibility to view and manage their warehouse receipts via online portal.
  • Easy access to finance by enabling multiple transfers without physical movement of goods.
  • Splitting of NWRs for partial sale/pledge/withdrawal.
Explore Courses for UPSC exam

Top Courses for UPSC

Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Consider the following statements regarding Negotiable warehouse receipt (NWR). The negotiable warehouse receipt (NWR) system allows the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically. NABARD regulates the entire operation under NWR. NWRs are issued by registered warehouses and enables farmers to seek loans from banks against NWRs.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)2, 3Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev