About Us
NeRL aims at ensuring the safety and soundness of electronic warehouse receipts by developing solutions that increase efficiency, minimize risk and reduce costs.
Our Story
WHERE PEOPLE COME FIRST
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.
Using innovative and flexible technology systems, NeRL works to support farmers, traders, processors and all value chain participants in the commodity markets. The intention is to make the business through warehouse receipts effortless for all our stakeholders and bring ease, safety and value to electronic warehouse receipts. In the end, we are not just about eNWR, but also about the people who use them.
Our History
Although India had a vibrant commodity market which is more than a century old, the paper-based warehouse reciepts caused substantial problems like 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 preposition for repository to give services to the Indian Agricultural Market.bad delivery, mutilation, duplication etc. The enactment of Warehousing (Development and Regulation) Act, 2007 and thereafter the formulation of The Warehousing Development and Regulatory Authority (WDRA) in October 2010 was done to exercise the powers conferred on and to perform the functions assigned to it under the Act, for development and regulation of warehouses, negotiability of warehouse receipts and promote orderly growth of warehousing business.
WDRA in October 2016 came out with Guidelines for Creation and Management of Electronic Negotiable Warehouse Receipts (ENWRs), the enabling provisions of the Guidelines seek to establish a system for creation and management of ENWRs through registered Repositories, paving the way for establishment of NeRL.
Company Purpose
We revolutionize the world of commodities built on cutting-edge technology to foster transparency, trust, and sustainable value for all.
NeRL Values
We share the onus of upholding the NeRL values and keeping them alive in the way we do business.
Trust
“We earn Trust through consistent actions aligned with our purpose.”
We demonstrate the highest level of integrity, prioritize collective over individual interest, and build an inclusive environment where everyone feels included.
Transparency
“Transparency is key at every step of our operations.”
We practice transparency through open communication, honesty, and accessibility. We always aim to provide clarity and visibility.
Collective Value Creation
“We take pride in creating value that goes beyond individual interests.”
We commit to making a positive impact on society, environment, and economy. We measure success by creating a lasting positive impact on every life we touch.
Continuous Improvement
“We embrace a culture of continuous improvement by surpassing our own best.”
We encourage curiosity, learning, adaptability, seeking opportunities to evolve, and innovate in all that we do. We continuously refine our processes, products, and services to better serve our stakeholders and fulfil our mission.
Doing away with paperwork
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.
Management Team
The NeRL leadership is a unique team of dynamic individuals at the helm of a revolution that is slowly changing the face of agri-warehousing in India.
SAURABH KHANNA
Managing Director & Chief Executive Officer
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Mr. Saurabh Khanna holds an MBA degree from the Institute of Management Studies, DAVV, Indore. He brings with him 25 years of rich experience in Business Development, P&L Management and Team Management in the BFSI sector. He has worked with L&T Finance as a Business Head for Agriculture & Allied business where he was responsible for creating a roadmap for the growth of the responsible market, increasing share and leading growth. Before L & T finance, he was working with Samunnati Financial Intermediation & Services Pvt. Ltd as a Business Head. He was managing more than 2000 Agri. enterprises clients and 3000 FPOs in various stages of development.
His earlier experience includes Executive Director & Business Head-Retail, Standard Chartered Investments & Loan Ltd. and Director –Financial Inclusion (PSL) with Standard Chartered Bank: Head –FIG-West, ICICI Bank; Cluster Head & VP-Business Banking, HSBC.
ABHISHEK RAI
Chief – Marketing & Human Resources
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Mr. Abhishek Rai is the Chief – HR & Marketing and a founder Member of National e-Repository Ltd. (NeRL). He holds an MBA degree in Marketing and a postgraduate certificate in HR from XLRI Jamshedpur. A Leader with a well-rounded experience of more than 24 years across Human Resource functions, Training & Development, Consulting and Business Development with organizations like Mafoi Management Consultants, SBI Life Insurance, Kotak Life Insurance and NCDEX Ltd. in various leadership roles including Head of HR.
He has recently completed a certification in “Leading a Technology Driven Organization” from Wharton, University of Pennsylvania. The key interest lies in Organizational Development, Change Management and Marketing.
SIDDHARTHA SINHA
Chief Technology Officer
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Siddhartha Sinha is a seasoned business technology expert with over two decades of experience, seamlessly blending a robust technical foundation with in-depth knowledge of the financial domain. He has held leadership roles at NCDEX and possesses extensive expertise in exchange trading, risk management, clearing and settlement, and warehouse management. An engineering graduate from VNIT, Siddhartha has also managed critical financial applications, including Structured Finance Analytics (CDO/CLO), Financial Messaging, Asset Management and Custody Services, for prominent organizations such as Moody’s, Citigroup, and SunGard. His comprehensive experience positions him as an authority in delivering tailored end-to-end technology solutions for the industry.
SACHIN WAGLE
Chief - Operations
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A CWA Professional with more than 20 years of experience in securities and commodities settlement operations. Has experience in warehousing, risk management, settlement procedures and compliance. Demonstrated history of successfully leading projects and implementing business plans within aggressive timelines. Before joining NCDEX in 2007, has worked with CCIL with proficiency in Govt. securities settlement.
Part of the core team while setting up of National e-Repository Limited (NeRL). At present heading Institutional Business and Operations at NeRL.
VINEET GUPTA
Executive Vice President & Business Head
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A result-oriented professional with 20+ years of cross-functional experience in Banking & Agri-Business and FMCG Business. Experience in retail and commercial banking having expertise in new business initiatives, business development and product management. Skilled in penetrating new market segments for expanding businesses and streamlining operations. Closely associated with the entire Agri value chain from farmers to Processors. Rich experience in both the assets as well as liabilities functions. Have developed domain expertise in agriculture loans and commodity business.
Share Holders
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.
