Policy and Regulatory Environment

The policy and regulatory environment is as follows:
  • The regulation regarding accreditation of warehouses to spot exchanges and credit against warehouse receipt is already in place,
  • The agreement between MSWC and NCDEX spot  has already been signed. This agreement provides  for  quality  standards  of  acceptable  produce,  price  determination  mechanism, payment mechanism, delivery responsibility, and dispute settlement arrangements,
  • Tie up between MSWC and Union Bank of India has been done. Manual of instructions in respect of operationalization of Warehouse Receipt Instrument will be prepared in Marathi by MSWC and circulated amongst the farmers and other stakeholders, covering such issues so that the component is well received by the farmers.
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The policy and regulatory environment is as follows:
  • The regulation regarding accreditation of warehouses to spot exchanges and credit against warehouse receipt is already in place,
  • The agreement between MSWC and NCDEX spot  has already been signed. This agreement provides  for  quality  standards  of  acceptable  produce,  price  determination  mechanism, payment mechanism, delivery responsibility, and dispute settlement arrangements,
  • Tie up between MSWC and Union Bank of India has been done. Manual of instructions in respect of operationalization of Warehouse Receipt Instrument will be prepared in Marathi by MSWC and circulated amongst the farmers and other stakeholders, covering such issues so that the component is well received by the farmers.
  • Warehouse  Act  provides  for  getting  credit  against  warehouse  receipt  from  the  banks. Besides this MSWC has entered into MoU with Union Bank of India for providing credit to the farmers against the produce of the farmers kept in warehouse. Union Bank of India has branches at 29 locations where MSWC godowns are located. At remaining 11 places Union Bank of India does not have their own branches. To facilitate availability of credit against warehouse receipt to the farmer, the Union Bank of India has made the arrangements with the local branch of other bank.
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