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Corporation Bank has signed an agreement with National Bulk Handling Corporation (NBHC) Pvt Ltd (an integrated agricultural commodity, collateral and supply chain management company) for pledge finance.
A press release by the bank said here on Thursday that the agreement has been signed to boost lending under warehouse receipt funding.
As per the agreement, NBHC will act as collateral manager for the commodities stored in warehouses by the farmers and traders, and the bank will extend credit facility against the pledge of these commodities under warehouse receipt financing.
It said that the bank has signed agreement with NBHC to further widen the platform for warehouse receipt finance benefiting small and medium farmers and borrower customers of the bank across the country.
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