Corporation Bank, a public sector lender has reportedly entered into an agreement with National Bulk Handling Corporation (NBHC), an integrated agricultural commodity, collateral and supply chain Management Company, for pledge finance. According to the agreement, NBHC will act as collateral manager for the commodities stored in warehouses by the farmers and traders, and the bank will extend credit facility against the pledge of these commodities under warehouse receipt financing.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. Overall, the Bank has a wide network of over 9,000 centres across India, including 2,061 branches, 2,599 ATMs and 4,349 branchless banking units.
