Lakshmi Vilas Bank (LVB), the private sector lender has reportedly entered into partnership agreement with National Collateral Management Services (NCML), an agri-infrastructure service provider for collateral management and warehousing services. This partnership would enable the bank to mitigate credit risk for its commodity finance product offerings. NCML has partnered with over 40 banks. Its warehouses manage about 70 agricultural commodities and provide storage services for non-agricultural commodities and inventories.
Lakshmi Vilas Bank currently has a network of 299 branches and 6 extension counters, spread over 15 states and the union territory of Puducherry. The bank’s focus is on customer delight, by maintaining high standards of customer service and amidst all these new challenges.
