Consider the following statements about Electronic Negotiable Warehouse Receipt e NWR System 1 The s...........

Economic Affairs Agricultural Marketing and Prices

Consider the following statements about Electronic Negotiable Warehouse Receipt (e-NWR) System

1. The system aims at simplifying the Warehouse Registration Rules, digitizing the entire process of registration, monitoring and surveillance.

2. E-NWRs could be used as pledge to get financing by banks and other financial institutions.

3. It will smoothen trading on various trading centres like commodity exchanges, electronic National Agriculture Markets (e-NAM), etc.

Which of the statement given above is / are correct?

1 and 2 only

2 and 3 only

1 and 3 only

All of the above

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Explanation:

- Statement 1: The e-NWR system does indeed aim to simplify the Warehouse Registration Rules and digitize the entire registration, monitoring, and surveillance process. This aims to enhance transparency and efficiency.

- Statement 2: E-NWRs can be used as collateral for obtaining financial support from banks and other financial institutions. They offer a secure and trustworthy method for farmers and traders to leverage their stored goods.

- Statement 3: The system indeed facilitates smoother trading on platforms like commodity exchanges and electronic National Agriculture Markets (e-NAM). It provides seamless and efficient transfer of goods ownership.

Option 4: All of the above is correct and embraces the accuracy contained in all the statements.