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HomePosts Tagged "Sohan Lal Commodity Management (SLCM)"
Agribusiness, Collaborations, Company News, Finance, India, Schemes - Banks, Supply Chain, Warehousing

This partnership will allow farmers and Agri-fraternity working with SLCM to get credit against their crops from the vast network of Bank of Baroda, present across the country.

 Sohan Lal Commodity Management (SLCM), India’s one of India’s largest post-harvest logistics and Agri-solutions Companies, has entered into a strategic partnership with Bank of Baroda to provide comprehensive Collateral Management Solutions. This partnership will allow farmers and Agri-fraternity working with SLCM to get credit against their crops from the vast network of Bank of Baroda, present across the country.

Through this partnership, SLCM will offer enhanced access to post-harvest credit at competitive rates, while also providing secure storage and risk management solutions. Leveraging its patented and industry-proven technology platform, Agri Reach, SLCM aims to simplify the collateral management process and create greater financial inclusivity for farmers, agribusinesses, and allied stakeholders across the country.

Commenting on the significant achievement Sandeep Sabharwal, Group CEO of SLCM, expressed “FY24 has been a remarkable year for our collateral management business, bolstered by four pivotal partnerships with major banks, including our latest tie-up with Bank of Baroda. Sustaining our market leadership with 15+ years, our vision has always been to ensure that every farmer, regardless of location or crops, has the opportunity to thrive in a conventional and digitized agricultural eco-system.

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, minimizing the default risk and ensuring better financial access for the entire agricultural ecosystem. This not only speaks to the industry’s confidence in SLCM’s capabilities but also showcases the substantial growth every year in our Assets Under Management (AUM)”.

Currently, the company has expansive partnerships with 20+ leading financial institutions in India and Myanmar, further expanding SLCM’s banking portfolio and market reach.

As SLCM’s AUM increased by an outstanding 73% to INR 11,952 crs in the first half of the current fiscal year from INR 6,911 crs in the same period during the previous financial year (FY 2023-24), these collaborations have also emerged as one of the primary drivers of growth for the company.

Salman Ullah Khan, CBO of SLCM expressed, “Our latest tie-up with Bank of Baroda is a testament to their invested faith in our innovative and scientific approach to post-harvest management platform. Our collaboration with financial institutions are part of SLCM’s larger strategy to provide Warehouse Receipt Financing and collateral management services across territories, enabling farmers and agribusinesses to access loans using their stored goods as collateral”.

This collaboration extends SLCM’s services across PAN India, ensuring that farmers, particularly in rural areas, have access to the financial support they need. SLCM’s network spans 19 states, operating over 17000+ warehouses and 36 cold storages, serving 1,080+ commodities as of 31st October 2024. The company’s services are especially beneficial to sectors dealing with cotton, pulses, maize, spices, mentha oil, and other key agricultural products.

This partnership will allow farmers and Agri-fraternity

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

Agribusiness, Company News, India, Supply Chain, Warehousing

 It will facilitate access to post-harvest credit at competitive interest rates, alongside offering scientific storage services and ensuring fair commodity pricing at marketplaces (Mandis).

 South Indian Bank announced a strategic partnership with Sohan Lal Commodity Management (SLCM) to deliver ‘Unified Collateral Management Solutions’ to support farmers and other stakeholders in the agricultural ecosystem. This collaboration will facilitate access to post-harvest credit at competitive interest rates, alongside offering scientific storage services and ensuring fair commodity pricing at marketplaces (Mandis).

The partnership is poised to address some of the key challenges faced by the agricultural sector, particularly in the areas of post-harvest storage and financing. By combining the financial expertise of South Indian Bank with the innovative collateral management and warehousing solutions provided by SLCM, the collaboration promises to deliver a seamless experience to farmers and agri-businesses alike.

Speaking on the collaboration, Senthil Kumar, SGM & Head – Credit, South Indian Bank said, “At South Indian Bank, we are committed to fostering sustainable growth and financial stability for the farmers who form the backbone of our economy. We are glad to partner with SLCM to add to our ability to serve our customers better. We are looking to build out our agriculture portfolio so as to improve yields, incomes etc. in rural India by creating a robust framework that enables farmers and agri-businesses to access post-harvest credit at competitive rates, while ensuring the safe and scientific storage of their commodities, thus, enhancing value creation across the agricultural ecosystem.”

Discussing the new partnership with South Indian Bank, Sandeep Sabharwal, CEO – of SLCM Group stated, “Our alliance with South Indian Bank underscores the strength of our collateral management and warehousing business model, built on a robust ‘phygital’ infrastructure and unmatched warehouse management expertise. South Indian Bank can now leverage our extensive network of warehouses and expertise to provide loans to entities across the agricultural ecosystem, with the minimal risk of default. At SLCM, we offer a reliable scientific management system for crop protection along with comprehensive warehouse support. Our AI-powered and NABL Accredited application ‘Agri Reach,’ which has earned two prestigious patents from the Government of India, has proven its ability to reduce post-harvest losses from the current 10 percent to just 0.5 percent, regardless of infrastructure, crop, or geographical location.”

With this collaboration, a lasting impact on the agricultural sector is expected, with enhanced support for farmers and agri-businesses, contributing to broader economic growth.

 It will facilitate access to post-harvest credit

Agribusiness, India, R&D, Supply Chain, Warehousing

The latest patent recognises the pioneering “Method for REAL-TIME Monitoring of Quality Control Data in a warehouse management system”.

 Sohan Lal Commodity Management (SLCM), India’s leading post-harvest logistics company, announced the acquisition of its second patent for Agri Reach application, from the Intellectual Property India, Government of India. The latest patent recognizes the pioneering “Method for REAL-TIME Monitoring of Quality Control Data in a Warehouse Management System”.

The innovation marks a milestone in the agriculture industry, by real-time monitoring of the quality of commodities at all stages of the warehouse management operations to ensure health of commodities during the whole process. The first patent of Agri Reach Application was granted in 2022, “Method for REAL-TIME Data Management” which had defined centralized processes for monitoring and managing crops from any location, whilst this Second Patent granted on 20th May 2024 specifically addresses the process of Monitoring Quality of the commodities stored in a Warehouse. With these two prestigious patents, SLCM Group becomes India’s first company in Agri Industry to have proprietary solutions for holistically managing both quality and quantity of crops in real-time under a single platform. These inventions would go a long way in making the country’s agricultural ecosystem self-reliant by bolstering diverse post-harvest facets, including an unparalleled, instant and accurate quality monitoring of food grains, tracking entire journey of a commodity and real-time intimation on damage, wastage or deterioration of quality of the Agri Commodity to warehouse operators for faster action and result oriented information.

An industry-proven, resilient and scalable, the latest patented method represents a major advancement in sustainable technology and spells numerous benefits for the agriculture & allied community, offering unparalleled accuracy of inbound and outbound transactions of commodity, streamlined data management processes by enabling a systemized and transparent process for quality control check of commodities at all junctures of warehouse management.

Commenting on strengthening SLCM IP portfolio, Sandeep Sabharwal, CEO of SLCM Group expressed, “We applied for the patent six years ago with a strong trust in our innovation and a mission to revolutionize the agriculture industry of India. It is a proud moment that the Government of India has acknowledged our patent application. This milestone solidifies our leadership position, being the first and only company in our industry to achieve two patents that will transform the agriculture domain. We are committed to making sustained efforts towards laying a robust Phygital infrastructure with culmination of cutting-edge technology and expansive physical network of establishments.”

He further added, “Both the patented inventions in a single platform of Agri Reach contains everything you need to effectively track commodity journey and syncing all data from numerous warehouse sites at the centralized location ensuring no gaps in the warehouse management process which may lead to deterioration of commodities. Warehouse operators are empowered to optimize quality control procedures and equip stakeholders with improved decision-making capabilities by having continuous access to the lifecycle of crops stored in the warehouse. Thereby, fostering sustainable development by curbing huge food grain losses during post-harvest stages”.

Agri Reach Application:

Backed by strong R&D efforts and forward-thinking approach, Agri Reach, is a state-of-the-art and the only NABL accredited application, developed to monitor and oversee Agri Commodities journey in Storage. The AI powered Application is agnostic to infrastructure, location or crops to enhance efficiency and transparency.

The application offers a diverse set of services in collateral management such as audit receipts, quality control, and surveillance. This helps agriculture experts to maintain the health of stored crops, and ensure optimum quality using a series of processes, audits, and real-time tracking of the facilities. 

The latest patent recognises the pioneering “Method

Company News, Finance, India, Warehousing

Kissandhan is revolutionising the way farmers, aggregators, traders, and Farmer Producer Organisations (FPOs) access financing.

In a major achievement, SLCM has made a profound impact on the lives of over 78,000 small and marginal farmers, along with more than 23,000 women borrowers, through its financial wing, Kissandhan.

Kissandhan empowers farmers and stakeholders to secure loans of up to Rs 5 Crore by pledging their commodity stocks stored in SLCM’s state-of-the-art warehouses. This significant milestone not only highlights SLCM’s dedication to the agricultural community but also represents a game-changing moment for the company.

Kissandhan, with its diverse range of products, including Commodity Based Finance (CBF), Financing FPOs and Business Correspondent (BC), has facilitated cumulative disbursements of Rs 2773 Crores and issued 48,936 warehouse receipts. This remarkable milestone underscores SLCM’s commitment to the agricultural community.

Kissandhan is revolutionizing the way farmers, aggregators, traders, and Farmer Producer Organisations (FPOs) access financing. SLCM understands the critical role FPOs play in supporting member and non-member farmers during crucial periods such as the procurement of inputs like seeds, fertilizers, and pesticides, as well as during harvesting. Kissandhan ensures that FPOs receive timely loans, enabling them to extend this support to farmers. As a result, farmers receive instant funds when they need them most, leading to improved livelihoods.

 Sandeep Sabharwal, Group CEO, SLCM, expressed his pride in achieving this milestone, stating, “Kissandhan initiative is a testament to our unwavering commitment to the well-being of farmers. We are thrilled to have made a positive impact on the lives of over 65,000 small and marginal farmers and more than 23,000 women borrowers. As we move forward, SLCM remains dedicated to introducing more innovative solutions that will empower the agricultural community and drive positive change in the sector.”

SLCM is also fostering Business Correspondent Partnerships for building retail book with Non-Banking Financial Companies (NBFCs) and Microfinance Institutions (MFIs) through Kissandhan. This initiative provides NBFCs engaged in Agri & Allied activities with loan limits of up to Rs 15 Crores for lending to small and marginal farmers. By doing so, Kissandhan is bridging the gap in rural credit access and empowering marginal farmers in agriculture.

This milestone reflects SLCM’s ongoing efforts to redefine agricultural financing in India. By leveraging technology and a deep understanding of the needs of farmers and FPOs, SLCM through Kissandhan has not only transformed lives but also ensured that the future of agriculture in India is poised for growth and sustainability.

Kissandhan is revolutionising the way farmers, aggregators,

Agrotech, Company News, India, Supply Chain, Warehousing

In just two months since its launch, ‘AgriReach mobile app has been utilized to inspect 21.59 lakh metric tons of crops at 303 locations in 17 states.

New Delhi based Sohan Lal Commodity Management (SLCM), one of India’s leading comprehensive service provider in the global post-harvest space for agricultural commodities, has received the coveted accreditation from the National Accreditation Board for Testing & Calibration Laboratories (NABL) for its ground-breaking AI ML QC application which falls under its Patented Process Management system “Agri Reach”. This is the first time in the history of NABL that a Mobile App has received a NABL Certification.

The Agri Reach app puts the power of recent scientific advancements in agriculture into the hands of regular smartphone users. People in rural India are making the most of this application’s advantages. In just two months since its launch, it has been utilized to inspect 21.59 lakh metric tons of crops at 303 locations in 17 states.

Using this AI ML QC module smartphone application to conduct a quality check of agricultural products is as simple as taking a picture. A simple click and submission through the app will analyze the image for a variety of quality metrics. The user will then receive a quality report that details the photographic evidence’s evaluation on specifications like damaged, shrunken, shrivelled or immature grains, foreign matter and a host of other physical parameters like height, length, grid, colour and pattern of the commodity. Results are automatically compared with pre-fed data in the back-end system, which updates itself on a regular basis utilizing a combination of technologies including artificial intelligence (AI) and machine learning (ML) with Python programming language.

Commenting on the NABL accreditation, Sandeep Sabharwal, Group CEO, SLCM said, “We had the vision for ‘phygitalizing’ (physical + digital infrastructure) the warehouse management system over a decade ago. With a dedicated team of professionals, SLCM created ‘Agri Reach’ – a system that enables effective warehousing solutions agnostic of infrastructure, geography, and crops. We are the only company in the Indian agriculture sector that has registered a technology patent in the Agri-Logistics (warehousing) segment to date which spans 75 years post-Independence and now I am proud to state that we have reaffirmed our leadership status by being again the first and only company in this space to get the coveted NABL accreditation for an application which will transform the way Agri industry assays the Quality of its Commodities.”

In just two months since its launch,

Agrotech, Award, Supply Chain, Warehousing

The award is in recognition of ‘AgriReach,’ SLCM’s proprietary centralised real-time process management system’s contribution towards Innovation under large enterprise.

New Delhi based Sohan Lal Commodity Management (SLCM), India’s leading comprehensive service provider in the global post-harvest space for agricultural commodities has received the prestigious “Sustainable Agriculture Awards” 2022 from FICCI, India’s oldest and largest industry association catering to diverse business domains. This is the 2nd edition of the awards and SLCM has retained this prominent award for the second consecutive year under the “Innovative Product/Technology/Services Promoting Sustainable Agriculture” category.

The award was received by Sandeep Sabharwal, CEO, SLCM from Narendra Singh Tomar Union Minister of Agriculture & Farmers Welfare, Government of India in the presence of dignitaries from the entire agriculture value chain and distinguished members of FICCI Agriculture Committee present on the occasion. List of awardees this year includes global FMCG giants like Coca Cola, Yes Bank and Nestle, among others.

Commenting on being a recipient of this honour for the second consecutive year, Sandeep Sabharwal, Chief Executive Officer, SLCM Group said, “We are delighted to win this prestigious award for the second year in a row. This award from India’s oldest and largest apex business association FICCI, is a clear endorsement of the impact we have delivered through our proprietary AgriReach process management system that leverages the latest developments in technology to enhance the Preservation, Management and Security (PMS) of food grain stock. This award is a huge morale booster for our team who are constantly working to integrate the latest technology-based systems and solutions into warehousing so that the advantage of a safe and modern storage system can benefit maximum stakeholders in the agriculture food chain.”

The prestigious award was conferred on SLCM for its contribution towards innovation under large enterprise through its proprietary ‘AgriReach’ process management system. The ‘AgriReach’ framework of services deployed in warehouses has helped reduce post-harvest losses to 0.5%. This is achieved through a series of processes, audits and real-time tracking to boost efficiency and minimize damage in storage. The system also leverages technologies like geo-fencing, Artificial Intelligence (AI), Machine Learning (ML), internet of things (IoT)-based surveillance, real-time tracking and bar-coded storage receipts to ensure safe storage.

The award is in recognition of ‘AgriReach,’