State Bank Of India

National Collateral Management Services (NCML), the leading collateral service management provider, has signed Memorandum of Understanding (MoU) with State Bank of India (SBI) to assist small and marginal farmers for availing finance against storage of agricultural produce to derive remunerative prices and avoid distress sale.

The tie-up with SBI will help farmers to have maximum reach with the bank to avail short-term finance against the warehouse receipts issued by small-sized godowns of private licensed warehouses built under 'Gramin Bhandaran Yojana' of NABARD across the country.

The bank reported 25.11% rise in its net profit at Rs 3879.07 crore for the quarter ended September 30, 2015 as compared to Rs 3100.41 crore for the same quarter in the previous year. The bank’s total income increased by 12% to Rs 46854.81 crore for the quarter under review from Rs 41833.36 crore for the corresponding quarter of the previous year.