Sohan Lal Commodity Management Ties-Up with Central Bank of India
SLCM will offer comprehensive collateral management and other value added services to farmers, processors, corporates, exchanges, etc.
- (1888PressRelease) September 30, 2014 - Sohan Lal Commodity Management (SLCM), India's leading agri logistics and warehousing company, today signed a Memorandum of Understanding (MoU) with Central Bank of India (CBI). SLCM will provide Collateral Management Services to CBI, which will enable them to provide agri financing to farmers, millers and all intermediaries of agri domain.
The tie-up will help the farmers to avail post harvest credits at affordable interest rates, which will further help them with scientific storage facilities and fair price discovery of their produce in the market. By ensuring the quality and authenticity of the documents provided by the loan seekers.
The strategic tie-up will benefit the Central Bank of India by using SLCM's ground network across 17 states and this will also help the bank in providing the loans to reliable customers.
Commenting on the MoU with Central Bank of India, SLCM Group CEO Sandeep Sabharwal said, "The tie up with one of India's leading banks is a big endorsement for our collateral management services model and will enable Central Bank of India to provide loans to entities across the agri chain without any hassles or fear of default. With our vast network of warehouses and technology driven warehousing processes, we will be able to provide transparent and efficient services to Central Bank of India. We look forward to more such tie ups with other leading banks to help them reach out to India's farming community."
About SLCM:
SLCM is a Delhi-based ISO certified, technology driven Agri-Logistic Company, which is having a network of 596 warehouses, 9 cold storages having a capacity of more than 15.5 lakh Metric Tonnes spread across 20 states with an area of more than 78.2 lakh square feet and a throughput of 55.0 lakh Metric Tonnes. PAN India. With over 3 decades of presence in warehouse management, SLCM offers holistic services in post harvest agri logistics ecosystem - from agri-commodity warehouse management to procurement and financing solutions to farmers, processors, traders, agri exchanges and government. SLCM handles about 50 plus agri commodities across India including cotton, pulses, maize, spices, Mentha Oil, etc. SLCM is on an aggressive growth path and has a robust, reliable and scalable technology infrastructure. It is the only company in India which has patented a commodity management processes called AGRI REACH which ensures almost negligent storage losses.
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