News Update

Govt working on new technologies for Small Nuclear ReactorsGovt unlikely to implement Digital India Act before general elections: MoSRPF arrested 91 persons and seized narcotics valued at Rs. 3.7 Cr in Nov monthJapan House okays Bill to legalise cannabis-based medicinesMandaviya launches public awareness campaign on Cardiopulmonary Resuscitation ProgramBJP MPs who won in assembly polls, put in papers in ParliamentI-T - In absence of any finding of any constitutional infirmity in a provision, Courts are not empowered to invalidate a provision, on account of different organs of State not being involved in scrutinising each other's wisdom in exercise of duties: HCPSBs junk loans worth Rs 3.6 lakh crore in past 3 yearsFEMA - power of seizure under FEMA will be construed as an interim arrangement in aid of final adjudication; as per settled position in law, reasoning of interim order will have no impact on reasoning for final decision: HCGST - Tax paid on Solar panels are not eligible for ITC as same are used exclusively for supply of exempted electricity: AAARGST - SCN is not pregnant enough as regards foundational material to enable reasonable opportunity to petitioner to respond effectively - Cost imposed of Rs.10,000 on respondent: HCToday means...VAT amendments during GST regime - Competency and powers of StateSubsidy of Rs 5,228 Cr given to EV manufactures on sale of 11.53 lakh Vehicles: GovtI-T- Revenue authorities are obliged to apply the tax laws onto the proven facts of a case & the authority is not at liberty to presume or assume any facts: HCIndia's Nairobi-based EXIM bank to serve 15 countries in region: MinisterI-T-Adjudicating authority is obliged to record reasons for concluding as to why re-assessment proceedings have been commenced, even in ex parte proceedings: HCGovt trying to reduce dependence on imports of EVs: MoSMoody’s mood changes; lowers China’s credit rating to NegativeNaidu releases India Infrastructure Report 2023Delhi HC orders re-setting of income cap to Rs 5 lakh from Rs 1 lakh for EWS category school admissionsCOP28: Global dairy companies pledge to cut methane by cow-belching
Warehousing Development Regulatory Authority, Bank of India ink MoU for low-interest, no-collateral loans to farmers

By TIOL News Service

NEW DELHI, SEP 30, 2023: IN order to facilitate farmers and traders in providing low interest rate loans, Warehousing Development Regulatory Authority (WDRA) signed Memorandum of Understanding (MoU) with a Bank of India (BoI) on 27.09.2023 in the presence of Mr T.K Manoj Kumar, Chairperson, WDRA, Mr Rajneesh Karnatak, MD&CEO, BoI, Mr M. Karthikeyan, ED, BoI and other senior officers of WDRA and BoI.

The MoU was signed with the intent of promoting awareness to fund against e-NWRs (electronic Negotiable Warehouse Receipt). The MoU also aims to provide information to depositors of the benefits, besides doing further outreach activities to improve agricultural pledge finance in India. During the event, a presentation was made by WDRA on the importance of post-harvest pledge financing using electronic Negotiable Warehouse Receipts (e-NWRs) for improving rural credit. The bank representatives also highlighted the risks faced by the lending institutions in this sector.

The WDRA assured their full regulatory support in improving the fiduciary trust among stakeholders.