Nabard Consultancy Services, a wholly owned subsidiary of National Bank for Agriculture and Rural Development, has been registered as the accreditation agency for warehouses and cold storages in the country.
The Warehousing Development and Regulatory Authority has selected the firm to issue accreditation certificates for warehouses and cold storages. Accredited warehouses are generally preferred by banks for finance.
All warehouses and cold storages are required to be registered with the authority for issuing negotiable warehouse receipts (NWRs). The authority registers only the facilities that have the required accreditation certificates.
The receipts issued by registered warehouses will help farmers seeking loans from banks against such receipts, an official statement said.
NWRs could be issued by accredited warehouses in respect of 115 commodities, including cereals, pulses, vegetable oils, oil seeds, edible nuts and spices.