NERL issues 31 e-negotiable warehouse receipts so far

NERL, a subsidiary of agri- commodity bourse NCDEX, today said it has issued 31 electronic negotiable warehouse receipts (eNWRs) since start of its operations in September 2017.
Warehouse receipts are made negotiable under the Warehouse (Development and Regulation) Act, 2007, and regulated by the Warehousing Development and Regulatory Authority. Warehouse receipts are issued in negotiable form, making them eligible as collateral for loans.
In a statement, National e-Repository Limited (NERL) said that it has issued total 31 eNWRs between September 26 and December of 2017 for a total 324 tonnes of commodities.
Out of which, 28 eNWRs were generated in December 2017, it said adding that the response it has received has been encouraging from agri-participants in just three months.

NERL also mentioned that the industry regulator WDRA was working towards mandating only electronic receipts for its registered warehouses and the decision could be taken in a couple of months.