In January 2023, the Warehouse Development Regulation Authority (WDRA) signed a memorandum of understanding with _________________ of India to help farmers get low interest rate loans.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. State Bank of India.
The Warehouse Development Regulation Authority (WDRA) signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to assist farmers in accessing loans at lower interest rates. The collaboration aims to promote the use of warehousing receipts as collateral, enabling farmers to store their produce safely and obtain timely credit without having to sell their crops immediately. This initiative is expected to improve farmers’ financial stability, reduce distress sales, and enhance agricultural marketing. The partnership between WDRA and SBI marks a significant step toward strengthening the agricultural credit ecosystem in India.