- NWRs are recognized by the government.
- Banks can easily grant loans against them.
- Farmers get an official receipt for their stored produce.
- This receipt acts as collateral for loans.
- Farmers can take loans for further farming activities.
- This improves credit access for farmers, especially small ones.
- “Whrrl” start-up uses blockchain for secure and transparent loan transfer in minutes.
- This makes lending risk-free for banks.