Karnataka Bank has entered into a Memorandum of Understanding (MOU) with Star Agriwarehousing and Collateral Management (Staragri) for extending storage facilities to farmers and finance against the warehouse receipts (WHR). The finance to farmers will be extended under ‘Krishik Bhandar’ scheme of the bank.
Staragri has nominated Karnataka Bank as preferred financier for extending finance to farmers against the WHR. Farmers can avail the service of Staragri with a nominal fee.
Staragri is one of the leading collateral management service providers with a pan-India presence, managing about 800 warehouses and cold storages.
