2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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HDFC Bank
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City Union Bank
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Nainital Bank
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Federal Bank
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Detailed explanation-1: -Federal Bank offers finance against Warehouse Receipts of Agricultural Commodities issued by State/Central Warehousing Corporations (SWCs/CWC) or approved Collateral Managers. Best suitable for short term fund needs.
Detailed explanation-2: -Purpose. The scheme is being extended to finance traders/owners of goods/manufacturers for own processing against Warehouse Receipts issued by Collateral Managers (C.M) with whom we have tie-up. Further, WHR issued by CWC / SWC would also be eligible for WHR finance.
Detailed explanation-3: -Warehouse financing is a way for businesses to borrow money secured by their inventories. Inventories used as collateral will be moved and stored at a designated facility. The warehoused goods are inspected and certified by a collateral manager to ensure the borrower owns the inventory used to back the loan.
Detailed explanation-4: -WDR Act makes it mandatory for warehouses to register with Warehousing Development and Regulatory Authority (WDRA) for issuance of NWRs.
Detailed explanation-5: -Maximum up to Rs. 50.00 lacs per farmer.