NBHC ties-up with IDBI, SB of Patiala for warehouse soln
IDBI Bank and State Bank of Patiala have joined hands with National Bulk Handling Corporation (NBHC) for providing warehouse receipt financing solutions.
By PTI |
MUMBAI: IDBI Bank and State Bank of Patiala have joined hands with National Bulk Handling Corporation (NBHC) for providing warehouse receipt financing solutions.
NBHC is a part of the Financial Technologies group and provides solutions for commodity and collateral management. It will work as collateral manager with the two banks to provide farmers with hassle-free and economical access to credit, a release issued here said.
The Corporation has been appointed collateral manager by IDBI Bank and SBP to fund farmers, corporates and processors. As collateral manager, NBHC will be responsible for stock pledged with banks for quality and quantity.
NBHC's Managing Director and CEO Anil Choudhary said the agreements with both the banks would provide a great extent of financial flexibility to farmers, reducing the seasonal price fluctuations and distress sales during crop harvest season.
IDBI Bank's priority sector department's Chief General Manager, D K Kamble said "tying up with NBHC will help IDBI Bank increase the agri-portfolio by building quality assets in agri-lending. NBHC, through its expertise in commodity handling, will help IDBI Bank mitigate the risks associated with commodity financing."
Presently, NBHC manages more than 1-million metric tonnes of commodity under the collateral management spread over 1,200 warehouses.
NBHC is a part of the Financial Technologies group and provides solutions for commodity and collateral management. It will work as collateral manager with the two banks to provide farmers with hassle-free and economical access to credit, a release issued here said.
The Corporation has been appointed collateral manager by IDBI Bank and SBP to fund farmers, corporates and processors. As collateral manager, NBHC will be responsible for stock pledged with banks for quality and quantity.
NBHC's Managing Director and CEO Anil Choudhary said the agreements with both the banks would provide a great extent of financial flexibility to farmers, reducing the seasonal price fluctuations and distress sales during crop harvest season.
IDBI Bank's priority sector department's Chief General Manager, D K Kamble said "tying up with NBHC will help IDBI Bank increase the agri-portfolio by building quality assets in agri-lending. NBHC, through its expertise in commodity handling, will help IDBI Bank mitigate the risks associated with commodity financing."
Presently, NBHC manages more than 1-million metric tonnes of commodity under the collateral management spread over 1,200 warehouses.
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