The Hindu Business Line : Union Bank ties up with NBHC

Union Bank of India has tied up with National Bulk Handling Corporation (NBHC) to finance farmers and traders against warehouse receipts issued by the Corporation. (NBHC).

Farmers can store excess produce in warehouses and sell when prices improve. The warehouse receipts issued against their stocks can be used to avail themselves of loans from banks. The receipts can either be in physical format or in electronic (demat) form.

NBHC has at present 58 warehouses, which are either leased or hired, a press release said. As on June 30 Union Bank's agriculture lending stood at Rs 8,412 crore against Rs 6,462 crore for the same period of the previous year, registering a growth of 30.18 per cent.

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