Sohan Lal Commodity Management partners Central Bank of India
New Delhi, Sept 29 (IBNS): Agri logistics and warehousing company Sohan Lal Commodity Management (SLCM) on Monday signed a Memorandum of Understanding (MoU) with Central Bank of India (CBI).
SLCM will provide Collateral Management Services to CBI, which will enable them to provide agri financing to farmers, millers and all intermediaries of agri domain.
The tie-up will help the farmers to avail post harvest credits at affordable interest rates, which will further help them with scientific storage facilities and fair price discovery of their produce in the market.
SLCM will offer comprehensive collateral management and other value added services to farmers, processors, corporates, exchanges, etc. by ensuring the quality and authenticity of the documents provided by the loan seekers.
The strategic tie-up will benefit the Central Bank of India by using SLCM’s ground network across 17 states and this will also help the bank in providing the loans to reliable customers.
Commenting on the MoU with Central Bank of India, SLCM Group CEO Sandeep Sabharwal said, "The tie up with one of India's leading banks is a big endorsement for our collateral management services model and will enable Central Bank of India to provide loans to entities across the agri chain without any hassles or fear of default. With our vast network of warehouses and technology driven warehousing processes, we will be able to provide transparent and efficient services to Central Bank of India. We look forward to more such tie ups with other leading banks to help them reach out to India's farming community."
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