Sohan Lal Commodity Management (SLCM) today said it has tied up with HDFC Bank and IndusInd Bank to provide collateral management services.
This tie-up will help improve the farmers' access to post-harvest credits at affordable interest rates and also provide easy access to scientific storage facilities leading to a fair price discovery of their produce in the market, SLCM said in a statement.
"SLCM will leverage its proprietary (patent pending) technology 'Agri Reach' and support both these banks towards offering more efficient post-harvest credit and storage service to farmers, millers and other stakeholders in the agriculture sector," it added.
With a presence across 17 states in India, SLCM has a network of 2,100 warehouses backed by a reliable scientific management system for over 725 commodities, including cotton, pulse, maize, spices, mentha oil, among others.
SLCM Group CEO Sandeep Sabharwal said, "Like the other six banks and financial institutions with whom we have tie-ups in India, both these banks can also now benefit from our vast network of warehouses and expertise to facilitate loans to entities across the agri ecosystem without the fear of default or loss.
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