National Collateral Management Services Limited (NCMSL) has tied up with IndusInd Bank to provide collateral management and warehousing services. NCMSL has been a pioneer in providing collateral management services to banks. These services have assisted 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. NCMSL also offers premium services for working capital financing in commodity-based industries, especially agro-based industries.
Mr. Sanjay Kaul, MD & CEO of NCMSL and Mr. Ramesh Ganeshan, Head-Transaction Banking at IndusInd Bank signed the MoU. In providing collateral management services, NCMSL works in partnership with 16 leading banks and in more than 200 locations across the country.
Elaborating on this tie-up, NCMSL’s MD & CEO, Mr. Sanjay Kaul said, “We hope that this arrangement will result in substantial business across India. This new arrangement with IndusInd Bank will provide an opportunity to field functionaries to extend finance against warehouse receipts. Our warehouses spread across the country issue credible and reliable warehouse receipts.”
Commenting on the tie-up, Mr. Ramesh Ganeshan, Head-Transaction Banking at IndusInd Bank, said that this tie-up arrangement will focus on the producers at the start of the supply chain. “The farmers will benefit from this scheme as it will provide them with post-harvest credit facilities so that they do not have to resort to distress selling of their produce.”
NCMSL is a national level institution, promoted by IFFCO, Canara Bank, Corporation Bank, Punjab National Bank, HDFC Bank, Karur Vysya Bank, YES Bank, NCDEX and HAFED, to provide risk management solutions in the areas of commodity and inventories.
About National Collateral Management Services Ltd (NCMSL)
The National Collateral Management Services Limited (NCMSL) is the country’s leading player in warehousing services, supply chain management solutions and testing & certification. It provides collateral risk management for lenders as well as risk management of physical deliveries for commodity exchanges.
The company provides these services to growers, traders, processors, importers, exporters, overseas buyers & sellers, lenders, commodity exchanges, exchange traders and government agencies. NCMSL is present in 16 states and union territories across India and its warehouses manage as many as 70 agricultural commodities as well as storage services for non-agricultural commodities and inventories.
Incorporated in 2004, NCMSL has been promoted by reputed banks like Bank of India, Canara Bank, Corporation Bank, HDFC Bank, Indian Bank, The Karur Vysya Bank, Punjab National Bank and Yes Bank as well as organisations like NCDEX, IFFCO, HAFED and ACE Geneva. The company is governed by an independent and professional board.
The company provides following services: storage & preservation, procurement & supply chain, collateral management, testing & certification, trade & commodity intelligence, weather intelligence and crop intelligence.
