Thursday, February 11, 2016

#Canara Bank signs MouU with #NCDEX for #agri loan financing

Harideesh Kumar B, Executive Director of Canara Bank said that this is a mutually beneficial tie-up as we now have one more channel to lend against Warehouse Receipts at reasonable rates of interest.. Speaking on the occasion, S S Bhat, Chief General Manager of Canara Bank has highlighted importance of Produce Loan Financing and said that this MOU will go a long way in helping the farmer clientele of Canara Bank. The MOU will be win-win situation for all the parties.

This will facilitate financing to farmer clientele  of Canara Bank, against Ware House Receipts issued by WSPs.NCDEX is a leading national level electronic commodity spot market in the country offering on-line screen based spot trading system, which enables farmers to sell their produce online by way of bidding on NCDEX Platform and get better price realization for their produce.