NCML, Syndicate Bank tie up for warehouse receipt financing

| Updated on: Jan 17, 2018

National Collateral Management Services has tied up with Syndicate Bank to provide funding for farmers and traders against their commodities stored at its warehouses. NCML works in partnership with over 60 leading banks and financial institutions in 11,000 warehouses across the country.

NCML is present in 23 states and union territories across India and its warehouses manage 70 agricultural and non-agricultural commodities and inventories.

The objective of the collateral management service is to assist industries, traders and farmers in financing their capital requirements at all stages of the supply chain, ranging from pre-harvesting to the marketing and export stages.

M Mohan Reddy, General Manager, Syndicate Bank said the partnership would deliver value to all stakeholders and believe NCML will enable the bank to mitigate credit risk on commodity financing.

Rosaiah Yeluri, Head, Collateral Management, NCML said the tie-up will deepen penetration of collateralised agricultural finance given the bank’s presence through wide network of branches.

Published on August 11, 2016
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