National E-Repository Limited (NERL) provides platform for electronic Negotiable Warehouse Receipt (eNWR) generation for commodities in electronic form. It aims at ensuring the safety and soundness of electronic Negotiable Warehouse Receipts (eNWR) by developing solutions that increase efficiency, minimize risk and reduce costs. Its shareholders include NABARD, NCDEX, ICICI Bank and State Bank of India.
COOP BANKS AS PLEDGEE
NERL has recently signed an agreement with 3 district banks - Erode, Namakkal and Salem - as pledgee to disburse loans against eNWR. Each DCCB will also take on account maintenance responsibilities as a Repository Participant. The main focus of these banks will be to provide finance against eNWR to small and marginal farmers. This is a first of its kind pan India initiative of NERL, which will soon cover over 260 PACS' warehouses.
Kedar Deshpande, MD & CEO, NERL, explains the whole exercise. "DCCB - PACS and eNWR will bring change to the existing warehouse receipt finance ecosystem for small and marginal farmers. This is a great opportunity for NERL to help these farmers gain maximum benefits from the WDRA-eNWR ecosystem. It will also improve warehouse receipt finance and trade in PACS owned warehouses, further helping to transform PACS' warehouse into a marketplace."
6800 ACCOUNTS, 48 BANKS
This story is from the January 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Kamdhenu & Sammrudhi loans top rural customers
Unnayan Bharat Finance Corporation (UBFC) Director & Co-Founder Avneesh Trivedi shares the company's attempts to enhance the rural lending environment & deliver better services to its consumers:
It's going to be a 'world' of CBDCs
Practically, every central bank in the world is testing and readying a CBDC system:
Training for behavioral & social skills is key
3 CHROs from the top BFSI companies in India open up about their training and motivation programs aimed at enhancing employee effectiveness. The story is divided into 4 parts: (i) functional and behavioral training, (ii) manager to leadership training, (iii) learning-based training, (iv) motivational programs:
THE AI COMPASS
Artificial Intelligence has risen to be the hottest topic of discussion today. It is expected to impact everyone, and the impact could exceed that of war, global warming, supply chain disruptions, geopolitics, and much more.
To mentor & coach emerging leaders
Manish Shah, MD & CEO of Godrej Capital, outlines his focus areas today and in the future:
Innovation will unlock India's Mission 'Atmanirbhar’
Sunita Handa is Chairman, Toyota FSIN and Principal Advisor & TLAB Chairman, Protectt.ai Labs. She shares her current activities and her deep insights on innovaiton in an interaction with Manoj Agrawal:
Algorithm is the Boss
Irem Sayeed, Chief Credit Officer at U GRO Capital, dwells into business focus and modernization at the lender:
Fintech and Neobank under the same Umbrella
It was started in 1902 to build what came to be called Israel:
Bajaj Allianz Revolutionizes Employee's HR and IT Experience with WhatsApp, MS Teams, Al and Automation
A productivity booster shot at BALIC:
Small Beginning for a Big Opportunity
AMU Leasing's focus on serving the underserved market of individuals and fleets looking for financing for electric 3-wheelers and 2-wheelers:
