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      Question

      The negotiable warehouse receipt (NWR) system was launched

      in which of the following year?
      A 2010 Correct Answer Incorrect Answer
      B 2011 Correct Answer Incorrect Answer
      C 2012 Correct Answer Incorrect Answer
      D 2013 Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      The negotiable warehouse receipt (NWR) system was launched in 2011 allowing the transfer of ownership of a commodity stored in a warehouse without having to deliver it physically.

      These receipts are issued in negotiable form, making them eligible as collateral.

      This has been enabled by enabling the financing of warehouse receipts through the Warehouse (Development and Regulation) Act, 2007.

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