Karnataka Bank has entered into Memorandum of Understanding (MoU) with National Collateral management Services (NCMSL) for warehouse receipt financing and collateral management service, etc.
As per the agreement, the bank would be financing against the godown receipts/ cold storage receipts issued by NCMSL under the bank’s “KBL- Krishik Bhandar Scheme at an attractive rate. Meanwhile, NCMSL will ensure insurance coverage in respect of risks such as fire, burglary, earthquake, riots, malicious damage, war and food, etc.
NCMSL is one of the largest institutions engaged in providing quality storage solutions to farmers into the agro-commodity value chain. The storage network is spread across the country and they are storing all types of crops such as Grains, Pulses, Oil seeds, commercial crops, spices and plantation crops, etc.
