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NCML enter into a strategic alliance with Central Bank of India

Source : SIFY
Last Updated: Tue, Jan 29, 2013 09:35 hrs
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For Collateral Management & Warehousing services

Central Bank of India, the 102 year old and one of India's leading banks entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist 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.

Mr. Shyamal Gupta, Chief Business Officer, NCML, signed the agreement with Mr. R B Gupta, General Manager, Central Bank, in the presence of Mr. Malay Mukherjee, ED, Central Bank Ltd.

Commenting on this tie-up, Mr. Sanjay Kaul, MD & CEO, NCML said, "The tie-up with Central Bank of India will help in the spread of the agricultural finance and promote warehousing receipt financing across the country. This new arrangement with Central Bank of India 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.

The tie up would further consolidate the bank's presence with the wide network of warehouses of NCML in various states across length and breadth of the country and in turn help NCML to better serve the stakeholders in the agri-supply chain."

NCML is a national level institution, promoted by IFFCO, Rabo Equity, IFC, Karur Vysya Bank, HAFED, NCDEX, Punjab National Bank, Corporation Bank, Bank of India, Canara Bank, HDFC Bank, ACE Geneva, Indian Bank and YES Bank to provide risk management solutions in the areas of commodity and inventories.

ApnaPaisa News Desk

ApnaPaisa is India's leading Online market place for financial products such as loans, credit cards and insurance plans. Author can be reached at www.facebook.com/apnapaisa.

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