National E-Repository restricted (NERL) – a repository that manages electronic Negotiable Warehouse Receipts (eNWRs), additionally referred to as eNWRs, recently opened sixteen repository accounts of farmers in Samastipur, Bihar. These accounts are opened for turn out which is able to be hold on in an exceedingly WDRA registered warehouse in Samastipur, managed by ERGOS Business Solutions., a warehouser.
Indian farmers being at the core of the worth chain, area unit slowly realizing the advantages and convenience that follows eNWRs, particularly relating to access to simple finance. Svakarma Finance Pvt. Ltd., associate NBFC that supports Agri and MSMEs, and a Repository Participant (Pledgee) with NERL, has with success pledged against eNWRs this Gregorian calendar month.
This has been a results of a partnered effort between NERL, ERGOS and Svakarma Finance to assist farmers in India avail easy accessibility to credit facilities, that could be a starting for several additional farmers to come back on board the Repository platform.
Mr. Kishore Jha, CEO, ERGOS is functioning closely with the farmers to aboard them through the company’s Digital and offline platform backed by a grid of rural, medium and small warehouses at farm-gate across the earth science, for storage, and forward linkages.
Mr. Kedar Deshpande, MD & CEO, National E-Repository same, “This is associate honest effort towards creating a distinction within the lives of farmers by overcoming varied challenges long-faced with physical receipts. we have a tendency to hope to empower the farmers with a service that may facilitate them to manage their storage documents with ease and higher access to credit facilities.”
Warehousemen area unit answerable for supply of eNWR or eWR on NERL platform and maintenance of its underlying goods. Meanwhile, Banks or NBFCs will become Repository Participants (RP) with NERL as a grownup or for Account Maintenance. RPs area unit expected to produce services as per Repository tips.