Karnataka Bank has entered into a Memorandum of Understanding (MoU) with CNX Corporation (CCL) for extending storage facilities to farmers and finance against the warehouse receipts (WHR). CCL, one of the leading collateral management service providers, has nominated Karnataka Bank as preferred financier for extending finance to farmers against the WHR.
The finance to farmers will be extended under ‘Krishik Bhandar’ scheme of the Bank. This is one more credit initiative from Karnataka Bank, which mainly helps the farmer community to store their agriculture produce by avoiding distress sale, earn better price and simultaneously avail loan for further agriculture operation.
