Corporation Bank has entered into tie-up with Star Agri Warehousing and Collateral Management, Mumbai, for providing finance against warehouse receipts. Both the parties have inked a Memorandum of Understanding (MoU) for the same at the bank’s Corporate Office in Mangalore on November 12, 2013.
Banks are entering into tie-up arrangement with specialized warehousing and collateral management agencies wherein the pledge of negotiable warehouse receipt of the agencies with the banks facilitate farmers to get better agriculture credit facilities and prevent distress sale of the agricultural produce while mitigating risks of volatility in prices.
Star Agri Warehousing and Collateral Management has got its presence in more than 12 states, operating more than 200 warehouses across India with the total warehousing capacity of 10 Lakhs Metric Tonnes.
