|Which of the following statements is/are correct about the Warehousing Development and Regulatory Authority (WADA)?|
|I. Farmers can avail of loans by using the receipts issued for storage of grains at government accredited warehouses|
|II. This facility will help fanners avoid distress sales|
|III. WADA will facilitate loan waivers for farmers in drought hit areas|
A) I and II only
B) I only
C) I and III only
D) II and III only
Correct Answer: A
Solution :[a] The Warehousing Development and Regulatory Authority under the Warehousing comprising a chairperson and not more than two members, will register and accredit warehouses intending to issue negotiable warehouse receipts, and put in place, a system of quality certification and grading of commodities to protect the holders of receipts against malpractices and fraud. This will not only help farmers avail better credit facility and avoid distress sale, but will also safeguard financial institutions by mitigating risk inherent in credit extension to farmers.
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