Repository Ecosystem
Under the aegis of WDRA, the repository ecosystem is facilitating the utilization of eNWR and bringing ease of doing business for various stakeholders along the value chain.
Repository Ecosystem
With the entry of Repositories in the Warehouse Receipt ecosystem, the dynamics change drastically. NeRL is one such Repository functioning under the purview of WDRA. NeRL has Repository Participants (also known as RP) who act as agents of the Repository and help on-boarding Depositors onto the system and facilitate execution of transactions such as pledge, ownership transfer, withdrawal, etc. on the Repository system. The Depositor needs to reach out to an RP in his region (who are listed on the NeRL official website) to open a Beneficiary account on the NeRL system. He/she can request the warehouseman to generate eNWRs against this account number upon depositing his produce in a WDRA registered warehouse. These warehouses need to carry out mandatory quality checks and follow the other SOPs as per WDRA guidelines. All the details of the commodity stored is captured in the system giving absolute transparency to the Depositor with a view to each stage of the process. These eNWRs can be used for trading on the Commodity Exchanges, sale on eNAM platform and also for pledging with Banks & NBFCs. Since all stakeholders are plugged in to the system, accessing details regarding eNWRs becomes easy with lower turnaround time. Digitization of Negotiable Warehouse Receipts makes the adoption of this instrument far easier, quicker and feasible.
Repository Workflow
