e Kisan Upaj Nidhi portal registration 2024 and login process has been started by central government from 4th March 2024. The new EKUN scheme aims to provide farmers with an online platform to obtain post-harvest loans from banks. Farmers can pledge their electronic Negotiable Warehouse Receipts (e-NWRs) for the stocks kept in WDRA registered warehouses.
It is a joint endeavor of Department of Food and Public Distribution, WDRA, Department of Financial Services and NABARD. This gateway will improve ease of obtaining pledge finance by farmers against their stocks. In this article, we will tell you how to make E Kisan Upaj Nidhi portal registration 2024 and login.
Farmers can login using mobile number/email address. Once logged in, farmers will have to enter all the asked details accurately.
The EKUN digital gateway will automatically authenticate these details through electronically integrated data bases of UIDAI, CBDT, Repository, etc.
The Rule engine of portal also examines the farmer credit details like CIBIL score, etc.
Rule engine then provides the farmer, details of loans offered by banks.
Once the farmer chooses a bank’s offer, the portal provides a digital in-principle approval for the loan.
The farmer can go to the bank to complete documentation and to get the amount disbursed.
e Kisan Upaj Nidhi Schematic Representation of Work Flow – Click Here
Eligible Applicants for e-Kisan Upaj Nidhi Scheme
Farmers having commodities stored in a WDRA registered warehouse.
Farmer should have an e-NWR (electronic – Negotiable Warehouse Receipt) issued against such commodities.
E-NWR should be issued by either of the two repositories namely, NERL or CCRL.
Benefits of E-Kisan Upaj Nidhi Yojana
E Kisan Upaj Nidhi online platform aims to facilitate the farmers with stocks in WDRA registered warehouses to obtain post-harvest loans from banks.
Farmers can use their electronic-Negotiable Warehouse Receipts (e-NWR) to apply for secured credit from banks.
e-NWRs can be issued only by WDRA registered warehouses.
Financing for agricultural commodities against e-NWRs shall be available from Banks/Financial Institutions.
The EKUN digital gateway would primarily boost post-harvest pledge financing for farmers.
This will provide them sufficient liquidity and help them defer sale of their harvested produce to a more opportune time when it could fetch better prices. Thus, distress sale can be reduced.
Banks onboarded on the E Kisan Upaj Nidhi gateway will provide a choice to farmers in terms of rate of interest, loan amount, etc. Farmer can choose the best option available.
Additional Information
EKUN Digital Gateway facilitates loaning against electronic Negotiable Warehouse Receipts (e-NWRs) regulated by WDRA. It will reduce the turnaround time for pledge loans through seamless transfer of data.
Farmers to register/apply on JanSamarth portal using the same mobile number as registered with the repositories (NERL / CCRL).
Maximum tenure is commensurate with the stated shelf life of the commodity or date of validity of the e-NWR in any case not exceeding 12 months.
The margin is of 25% against an e-NWR.
An e-NWR has a time validity that is co-terminus with the validity of the commodity or withdrawal of the commodity fully from the warehouse, after which it expires.
