Private sector Bank Lakshmi Vilas has tied up with National Bulk Handling Corporation (NBHC) for collateral management and warehousing services.
The primary objective of these services will allow industry traders and farmers in financing their capital requirements at all stages of supply chain, ranging from pre-harvesting to the marketing and export stages.
This would allow the bank to provide financial flexibility to farmers, minimising the seasonal price fluctuations and distress sales during crop harvest season. NBHC services to the needs of the members of the commodities future exchange for strong commodities and delivery through designated warehouses.
- Lakshmi Vilas Bank founded in 1926 by a group of seven progressive businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. Their objective was to cater to the financial needs of people in and around Karur who were occupied in trading businesses, industry and agriculture.
- Parthasarathi Mukherjee is managing director (MD) and CEO of Lakshmi Vilas Bank.
- National Bulk Handling Corporation is an Indian commodity and collateral management company based in Mumbai. NBHC is a venture of the Financial Technologies Group. Only Indian Warehousing and Commodity Management solution entity with a ISO 22000:2005 certification. It handles more than 2.7 million tonne of agricultural commodities –– mainly rice, wheat, mustard and maize –– at around 3000-odd centres located in 19 states. NBHC also work closely with govt organisation such as Food Corporation of India
So lets do:
- Who is the managing director (MD) and CEO of Lakshmi Vilas Bank?
- Private sector Bank Lakshmi Vilas has tied up with _______ for collateral management and warehousing services.
Source – The Economic Times