| COMPANY NAME | National E Repository Ltd. LTD. |
|---|---|
| NATURE OF BUSINESS | Commodity Repository |
| ISIN NO | INE 878X01013 |
| FACE VALUE | Rs.10/- |
| PROMOTERS | NCDEX,NABARD |
| COMPANY WEBSITE | www.nerlindia.com |
| YEAR OF ESTABLISHMENT | 2017 |
| REGISTERED ADDRESS | Ackruti Corporate Park, 1st Floor, Near G.E. Garden, L.B.S. Marg,Kanjurmarg(West), Mumbai 400 078 |
National Commodity & Derivatives Exchange Limited (NCDEX), the largest Agri Commodity Derivatives Exchange, has incorporated an institution and a market intermediary, National E-Repository Limited (NeRL) that provides a platform for issuing negotiable warehouse receipts for commodities in electronic form.
NeRL, the Commodity Repository in India, incorporated in February 2017 and has received the ‘Letter of Intent (LoI) in December 2016 from WDRA. NeRL commenced its operations in September 2017.
In the Repository system, eWRs are held in repository accounts, which is more or less similar to holding funds in bank accounts. Transfer of ownership of eWRs is done through simple repository account transfers
This method does away with all the risks and hassles normally associated with paperwork. Consequently, the cost of transacting in a repository environment is considerably lower as compared to transacting in physical warehouse receipts
Apart from NCDEX, the other shareholders of NeRL include National Bank for Agriculture and Rural Development (NABARD), the largest re-finance institute, ICICI Bank, one of the largest private sector Banks in India and State Bank of India, the largest public sector Bank in India. Such unique parentage makes it a unique proposition for the repository to give services to the Indian Agricultural Market.