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Private sector lender Federal Bank today said it has entered into a tie-up with Edelweiss Integrated Commodity Management (EICML) for extending collateral management in commodity financing.
The tie-up is expected to benefit farmers, traders and processors who are in need of finance, against the pledge of commodities instead of sale at low prices, Federal Bank said in a release issued here.
EICML is one of the leading collateral management service providers with a pan-India presence.
The MoU was signed here between Federal Bank General Manager (Products) Antu Joseph and Edelweiss Group Vice-President Shekar Subramanian.
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