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National Collateral Management Services, one of the major agriculture-infrastructure players, and L&T Finance has entered into a strategic partnership to assist industries, traders and farmers with working capital requirements at all stages of the supply chain.
Mr Dinanath Dubhashi, CEO, L&T Finance, said the tie up will help farmers avoid selling their produce at low prices by enabling them to hold on and wait for better prices.
L&T Finance has started warehouse receipt finance in selected territories and envisages expanding the business soon. National Collateral Management Services (NCMSL) has partnership with 16 leading banks. With its presence in 16 States and Union Territories, NCMSL manages about 70 agricultural commodities and storage services for non-agricultural commodities and inventories.
Mr Sanjay Kaul, Managing Director, NCMSL, said the alliance will be beneficial to stakeholders in view of the large rural customer base of L&T Finance across the country.
“NCMSL has plans to build its own warehouses at 40 locations across 12 states and this partnership will facilitate secured post-harvest lending on large scale to farmers, processors and other agri-business clients,” he added.
L&T Finance, incorporated as an NBFC in 1994, is listed on the NSE and BSE. It is primarily engaged in short- to medium-term asset backed financing such as construction and transportation equipment, rural products, supply chain finance, corporate loans and leases, microfinance.
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