PNB bags first prize in the category of PSBs for giving loan to registered warehouses

PNB bagged the first prize in the category of PSBs for giving loan to registered warehouses

The Warehousing Development and Regulatory Authority (WDRA) while celebrating its Foundation Day on 25th October 2013 awarded the First prize to Punjab National Bank in the category of Public Sector Banks for its performance in giving loan to the borrowers in the registered warehouses in the country against Negotiable Warehouse Receipts. On behalf of Punjab National Bank, its General Manager (MSME), Shri SS Bhatia received the award from Prof. KV Thomas, Minister of State (Independent Charge), Ministry of Consumer Affairs, Food & Public Distribution, Govt. Of India. The award ceremony was held on 25th October’2013 at NCUI building, 3, Siri Institutional Area, August Kranti Marg, Hauz Khas, New Delhi.

With a view to popularize the benefits of the Negotiable Warehouse Receipts (NWRs) among farmers, traders, exporters etc. to issue more and more NWRs,  (WDRA) has initiated a scheme for giving prizes/ awards to warehouse managers of registered warehouses, Banks & Farmers. Through the scheme of financing against the NWRs, the farmers are benefited a lot by proving them the scientific produce storage facility and making the finance available to them at very low rates.