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National Bulk Handling Corporation, a collateral management company, has signed a memorandum of understanding with L&T Finance for collateral management.
NBHC is already associated with 38 banks and financial institutions for collateral management. Through this network it has facilitated funding for over 150,000 small and medium farmers by way of warehouse receipt financing.
Till date, it has helped banks and financial institutions disburse over Rs 26,000 crore through its collateral management services.
Mr Anil K. Choudhary, Managing Director and CEO, NBHC, said the tie-up will further enhance NBHC to facilitate post-harvest credit between banks and farmers in rural India. NBHC handles over 160 commodities in more than 9,000 storage facilities across 900 locations. It also has 30 quality assurance laboratories.
Mr Dinanath Dubhashi, Chief Executive, L&T Finance, said the tie-up will provide a fillip to warehouse receipt financing and enable farmers get better price for their agricultural produce by avoiding distress selling.
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