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HomePosts Tagged "Punjab National Bank (PNB)"
Agribusiness, Collaborations, Company News, Finance, India, Schemes - Banks, Supply Chain, Warehousing

SLCM will leverage its patented technology ‘Agri Reach’ and support these banks by offering more efficient post-harvest credit and advanced storage services to its stakeholders.

Sohan Lal Commodity Management (SLCM), India’s largest post-harvest logistics and Agri-solutions Company, announced its strategic partnership with Punjab National Bank (PNB) and Bandhan Bank. The collaboration aims to offer ‘Unified Collateral Management Solutions’ to support farmers and Agri-stakeholders in procuring post-harvest credits at competitive rates across the nation.

For these partnerships, SLCM will leverage its patented and industry-proven technology ‘Agri Reach’ and support these banks by offering more efficient post-harvest credit and advanced storage services to its stakeholders. Agri Reach has significantly reduced post-harvest losses from 10 per cent to just 0.5 per cent (acknowledged by FICCI Report), benefiting millions of farmers and stakeholders in the entire supply chain.

Having market leadership with 15+ years of experience, the SLCM Group has built strong relationships and trust with 23+ leading banking institutions across India and Myanmar. The company has been continuously working with multiple banks as their Collateral Managers for Warehouse Receipt Financing and offering field-tested and scalable ‘Unified Collateral Management Solutions’ comprising digitized warehouse management platform, quality & quantity commodity management, risk management, and security services to name a few.

On the announcement of the new partnerships, Sandeep Sabharwal, Group CEO of SLCM, expressed, stating “Our partnerships with 16 banks in India have established us as a “preferred partner” for financial institutions across the industry. Our latest tie-ups with Punjab National Bank and Bandhan Bank are a testament to their invested faith in our innovative and scientific approach to post-harvest management platform. By leveraging our Phygital infrastructure and cutting-edge Agri Reach technology, we are enabling our banking partners to provide farmers with efficient and secure loans, reducing the risk of default and ensuring better financial access for the entire agricultural ecosystem.”

The partnership promises to give farmers and agribusinesses with a seamless experience by fusing the financial expertise of Bandhan Bank and Punjab National Bank with the innovative collateral management and warehousing solutions offered by SLCM, therefore ensuring that farmers can store their harvests securely while accessing much-needed financial support.

With a network spanning 19 Indian states, SLCM operates over 16,742 warehouses and 36 cold storages, offering end-to-end post-harvest solutions for more than 1,080 commodities (as of 30 September, 24). These partnerships will facilitate comprehensive finance and collateral management services for commodities like cotton, pulses, maize, spices, and mentha oil.

SLCM will leverage its patented technology ‘Agri

AgroPolicy, Dairy, Finance, India, Schemes - Banks

 PNB will provide finance to beneficiary organisations (BOs) in the cooperative sector, including milk unions/federations, multi-state cooperatives and producer owned institutions.

The National Dairy Development Board (NDDB) has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) for providing finance to beneficiary organisations (BOs) in the cooperative sector, including milk unions/federations, multi-state cooperatives, producer owned institutions such as producer companies and NDDB’s subsidiary companies.  S Regupathi, Executive Director, NDDB and Dipankar Mahapatra, General Manager, PNB signed the MoU in the gracious presence of Dr Meenesh Shah, Chairman, NDDB. The agreement will be in effect for a period of 5 years.

 On the occasion, Dr Meenesh Shah, Chairman, NDDB stated that the collaboration between the two organisations is crucial for expansion and development of dairy infrastructure for producer-owned institutions. Investing in dairy infrastructure will undoubtedly bring more efficiencies to the dairy value chain. This will enrich our efforts to find sustainable and innovative solutions to overcome the challenges posed by the increasing demand for milk and milk products.

 The Dairy Board will endorse eligible BOs to PNB for financing and provide technical and advisory support for the preparation of appraisal reports. Additionally, NDDB will offer periodic progress reports to PNB for projects being carried out by NDDB under the consultancy agreement.

 PNB will provide financial assistance in accordance with RBI Guidelines and internal guidelines from time to time on mutually agreed arrangement by way of term loans for development of dairying and other related infrastructure. This includes working capital assistance for the benefit of the BOs and term loans for development of dairy infrastructure, manufacturing of value added products, milk testing, cattle feed and feed supplements, milk transportation, marketing infrastructure, ICT infrastructure, research & development, infrastructure for renewable energy and other infrastructure for enhancing efficiency, packaging of dairy and other related commodities, training centres, dairy equipment manufacturing, biologicals & nutraceuticals, manure management. PNB will offer financial assistance at a competitive rate of interest and also explore the availability of interest subvention under Central/State Govt. Schemes.

 PNB will provide finance to beneficiary organisations