NCDEX-PNB deal on client financing

In its endeavour to offer value added services to its members, NCDEX has arranged with Punjab National Bank (PNB) to finance the exchange's trading and clearing members.

Under the new scheme launched by PNB, it would fund VSATs required for trading on the exchange by members of NCDEX.

Members can avail loans for periods varying from three to five years amounting to maximum of Rs 50 lakh per member at an interest rate of 13.25 per cent per annum.

"Growth of commodity markets and national level exchanges has opened up a number of interesting and innovative opportunities for the investor community in the country. While more people all over the country are recognizing commodity exchanges as a fruitful proposition for investment; PNB and NCDEX are working towards facilitating their investment needs", said PH Ravikumar, managing director and chief executive officer, NCDEX.