Collateral services provider NCML has signed an MoU with State Bank of India for providing finance facility to farmers against warehouse receipts of their produce.
The tie-up with SBI will help farmers to have maximum reach with the bank to avail short-term finance against the warehouse receipts, National Collateral Management Services Ltd (NCML) MD & CEO Sanjay Kaul said.
The arrangement with SBI will provide an extended opportunity to finance against warehouse receipts issued by small-sized godowns of private licensed warehouses built under 'Gramin Bhandaran Yojana' of NABARD across the country, he added.
Kaul further said that NCML has strong association with large network of these warehouses under 'Kisan Mitra Godowns' scheme.
NCML, majority owned by Fairfax Holdings, provides commodity services such as supply chain management, warehousing financing and collateral management.
