Bank of Baroda (BoB), a public sector lender has reportedly entered into a partnership with CNX Corporation (CNX) with an objective to provide collateral management services towards the loans against warehouse receipt sanctioned to the farmers through the network of the bank’s branches across the country. This relationship of BoB, one of the premier banks of our country, with CNX Corporation (CNX) will immensely benefit the farmers from distress sale of their commodities.
CNX is engaged in providing warehouse management services relating to commodities and inventories which include collateral management services, field warehousing arrangements, inventory audit services, storage and preservation services, procurement services, testing and certification services, inspection services, monitoring services.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
