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PNB enters into warehouse management pact

10 Sep 2014 Evaluate

Punjab National Bank (PNB), one of the country’s largest lenders, has entered into a Memorandum of Understanding (MoU) with Origo Commodities India for warehouse receipt financing and is targeting to disburse Rs 500 crore this fiscal.

Under this MoU, PNB, through warehouse receipts issued by Origo, will cater to the needs of MSMEs and farmers by providing financing against a pledge of agricultural commodities.

Origo Commodities is a post-harvest solutions and warehouse management services company in India. It currently operates 300+ warehouses and has over 3.5 million tonnes of commodities with value of $1.5 billion under management.

Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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