SBI ties up with SLCM for post-harvest credit, storage

Tags: SBI, SLCM, Banking
State Bank of IndiaBSE -0.47 % today entered into a tie-up with Sohan Lal Commodity Management (SLCM) to provide post-harvest credit and storage services to farmers.

The bank, which has an agri-portfolio of over Rs 1,00,000 crore, is targeting to do business of over Rs 150 crore through the tie-up within the first year, it said in a release issued here.

The tie-up for warehousing receipt financing and collateral management services will help farmers get affordable post-harvest credit, offer scientific storage facilities and fair price discovery of their produce, it added.

"SBI will provide post-harvest credit facilities while SLCM will offer comprehensive warehouse management and other value-added services to farmers, processors, corporates and exchanges," it said.

The bank has a network of over 9,426 rural and semi-urban branches, 19 agri commercial and 428 agricultural development branches, while SLCM is present across 100 locations in 20 states, dealing in 32 different agricultural commodities.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The world is moving away from fast food like never before

    Despite spending $1.8 billion every year on worldwide advertising and promotion, McDonald’s sales are plummeting.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schoettli

It’s time for Japan to step out of its shell

The execution of a Japanese hostage by ISIS has sho­cked ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Bubbles Sabharwal

Truth about truth

The question to ponder is, “is it the truth because ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture