StarAgri Finance Ltd, a subsidiary of StarAgriWarehousing and Collateral Management Ltd, today signed a MoU with private sector Karur Vysya Bank to provide financial assistance to commodity traders and farmers.
Under the memorandum of understanding, the assistance would be provided to the targeted sections against their commodities stored in warehouses of StarAgri Finance, a joint statement from the companies said here.
Micro-lending would be provided to traders and farmers in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra, the statement said.
"We are offering a unique credit solution to our customers through our partnership with Karur Vysya Bank," the statement quoted founder-director of StarAgri Amith Aggarwal as saying.
The partnership would ensure credit facilities to the rural customers through a formal lending system enabling them to grow their farm businesses, CEO of StarAgri Finance Gurinder Singh Sehmbey said in the statement.
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