NBHC signs MoU with Punjab & Sind Bank

National Bulk Handling Corporation (NBHC), the country's leading integrated agri-commodity and collateral management company, has signed an MoU with Punjab & Sind Bank (PSB), one of India’s leading banks, to work together in the area of warehouse-based receipt financing. The agreement was signed by Vijay Srivastava, general manager (priority sector), PSB and Anil Choudhary, MD & CEO of NBHC.

NBHC is associated with 33 leading banks for collateral management. Through this network, it has facilitated funding and benefited over 60,000 small and medium farmers through warehouse receipt (WR) financing. Till date, over Rs 16,000 crore funding has been disbursed through NBHC’s collateral management support to borrowers across the ecosystem.

 

“With a view to increase direct agriculture advances against pledge of warehouse receipts and provide credit support to farmers, Punjab & Sind Bank and NBHC will jointly work to provide liquidity to farmers against their produce and thereby enable them to time their sale for optimal returns,” Anil Choudhary, MD & CEO of NBHC said.

NBHC’s network of over 900 locations across 19 states that are under collateral management and professional warehousing and PSB’s network of over 900 branches will be a winning combination in reaching out to maximum number of customers in this segment on an immediate basis.

“With our own widespread network and NBHC’s understanding of the commodity space and rich experience, we wish to increase direct agriculture advances against pledge of warehouse receipts and provide credit support to customers” said P K Anand, executive director, PSB.