The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Featured

NERL brings Bank Of Maharashtra on board to give loans against eNWR in Maharashtra

by TLN Team June 13, 2022June 13, 2022
written by TLN Team June 13, 2022June 13, 2022
NERL brings Bank Of Maharashtra on board to give loans against eNWR in Maharashtra

National E-Repository Limited (NERL), a Repository for generating electronic Negotiable Warehouse Receipts (eNWR), promoted by National Commodity & Derivatives Exchange Limited (NCDEX), recently signed an agreement with Bank of Maharashtra (Mahabank), headquartered in Pune, as a Pledgee to disburse loans against eNWR.

Mahabank, becomes the 44th bank with NERL to provide loans to depositors and farmers against eNWR with its presence in all major districts in Maharashtra.

“WDRA registration of warehouses opens up scientific and standardized storage facilities to depositors who deposit their commodities in such warehouses. eNWR is a safe electronic instrument for lending to farmers, processors and traders on a state of the art secured technology platform with lien confirmation and removal in addition to online real-time reporting of transactions.  Mahabank joining hands with NERL will enable depositors in registered warehouses to avail loans against eNWRs and also encourage registration of warehouses with WDRA from the Agri commodity producing districts of Maharashtra,” said Sachin Wagle, EVP, NERL.

eNWR is a digital form of a warehouse receipt generated by WDRA registered warehouses on repositories like NERL which is regulated by the Warehousing Development and Regulatory Authority (WDRA).

eNWRs are held in unique repository accounts with NERL, which is similar to holding funds in bank accounts. Transfer of ownership of eNWRs is done through simple digital repository account transfers. This method reduces 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.

  • As on date, 43 nationalized, private and co-operative banks are on board NERL and are disbursing loans against eNWR
  • Banks of national presence like State Bank of India, ICICI Bank, Bank of Baroda, Central Bank of India, and Punjab National Bank are also disbursing loans against eNWR on NERL platform
  • Over Rs 3000Cr. worth of loans have been disbursed on the NERL platforms, as on 31st May 2022
  • Over Rs 15,800 Cr. worth of eNWR has been generated on the NERL platform, as on 31st May, 2022
  • Over 7,700 accounts have been opened with NERL –over 2,300are farmer/FPO accounts, as on 31st May 2022
  • Over 42 Lakh MT of commodity deposits have been made on the NERL platform, as on 31st May2022

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
COVID-19: Active count crosses 200 mark, 27 new cases in Nagpur district
next post
The evergreen Bhagyashree Dassani is all set to make her debut as a judge on DID Super Moms  

You may also like

IndianOil launches benefits &services for Maruti Suzuki Rewards members

March 29, 2023

Aakash BYJU’S Opens Its New Classroom Centre at Sadar

March 29, 2023

DHL Express renews partnership with Mumbai Indians for third consecutive year

March 27, 2023

Everest Instruments launches innovative FatscanMilk Analyser

March 27, 2023

The key elements of a high quality course

March 27, 2023

HDFC Bank launches Regalia Gold Credit Card 

March 24, 2023

City welcomes Nani for the promotions of ‘Dasara’

March 23, 2023

Asian Paints promotes ‘Shauq KiNo Limit’ in their new...

March 23, 2023

CAHO and Dozee Join Hands for a CXO Meet, Highlights...

March 22, 2023

Tata Motors Announces Price Increase for Commercial Vehicles

March 22, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Trending News

  • Good Friday’s Traditional Food Practises

    March 29, 2023
  • Five planets set to align in rare Celestial Event on March 28

    March 28, 2023
  • Govt extends deadline to link PAN with Aadhaar to June 30

    March 28, 2023
  • Major changes in Income tax to come into effect from April 1, check details

    March 28, 2023
  • WPL 2023: Mumbai Indians beat Delhi Capitals to lift WPL title

    March 26, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

June 2022
M T W T F S S
« May   Jul »
 12345
6789101112
13141516171819
20212223242526
27282930  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.