National E-Repository Limited (NeRL)

National E-Repository Limited (NeRL) is India's first and largest commodity repository, incorporated in February 2017 as a national-level market infrastructure institution under the Warehousing Development and Regulatory Authority (WDRA), Government of India. It was promoted by institutions of national stature — NCDEX (the majority stakeholder), NABARD, State Bank of India, and ICICI Bank — and commenced operations in September 2017. NeRL operates a secure digital platform for issuing and managing Electronic Negotiable Warehouse Receipts (eNWRs), transforming India's age-old paper-based commodity warehouse system into a transparent, efficient, and fraud-proof digital ecosystem. These eNWRs serve as collateral security for farmers and traders to obtain agricultural finance from banks and NBFCs. NeRL has issued over 5.5 lakh eNWRs covering more than 59.70 lakh metric tonnes of commodities across 1,096 unique WDRA-registered warehouses in 17 states and 1 union territory. Its stakeholder network includes 9,980+ active customers, 76 pledgee banks/NBFCs, and 99 repository participants. By FY 2023-24, cumulative bank finance against eNWRs since inception crossed ₹7,000 crore. NeRL leverages NCDEX's technology platforms — Comtrack® and Comlive — for commodity inventory management. The company is currently an effective duopoly in India's electronic commodity repository space alongside CCRL (backed by SEBI-regulated entities).