NERL Brings In Private Lenders as Repository Participants
NERL is a group company of National Commodity and Derivatives Exchange Limited. It has brought in ICICI Bank and HDFC Bank on board as the repository participants for pledge finance. The agreement with both the banks is being signed by NERL, where they will offer pledge finance against eNWRs.
The MD and CEO of NERL, Mr. Kedar Deshpande has signed the agreement. ICICI Bank and HDFC Bank have now been empanelled as repository participants.
According to the MD and CEO, Mr. Kedar Deshpande, the repository ecosystem will boost the ecosystem. However, it will also provide various other features and benefits to its stakeholders. It will help in reducing the turn-around time in processing the loans and marking the pledge on the eNWR.