Federal Bank signs MoU with EICML for collateral management

Private sector lender Federal Bank today said it has entered into a tie-up with Edelweiss Integrated Commodity Management (EICML) for extending collateral management in commodity financing.

The tie-up is expected to benefit farmers, traders and processors who are in need of finance, against the pledge of commodities instead of sale at low prices, Federal Bank said in a release issued here.

EICML is one of the leading collateral management service providers with a pan-India presence.

The MoU was signed between Federal Bank General Manager (Products) Antu Joseph and Edelweiss Group Vice President Shekar Subramanian here.