Sohan Lal Commodity Management (SLCM), India’s leading agriculture service solutions provider having operations across India & Myanmar, has entered into an strategic partnership with India’s largest bank, State Bank of India (SBI) for collateral management and warehousing services. As part of the agreement, SLCM will be the custodian of the commodities which bank has taken as a security against the loans, issued by it. The Memorandum of Understanding (MoU) was signed by Ved Prakash, DGM, SBI and Ankur Jaipuria, Chief Business Officer, SLCM.
Speaking about the partnership, Ved Prakash, DGM, SBI said, “We have entered into an agreement for collateral management services with Sohan Lal Commodity Management (SLCM), a company known for providing modern scientific warehousing and commodity testing services .This agreement with SLCM underscores the importance of agribusiness and agri infrastructure for SBI. As part of the agreement, SLCM will manage the quantity and quality of the collateral which will help in mitigating the risk for the bank. I truly believe that this partnership with SLCM will further deliver value to all our stakeholders, and is in accordance with the Bank’s focus on agri financing.”
Talking about the agreement with SBI, Sandeep Sabharwal, Group CEO, SLCM said,” It is a matter of pride that country’s largest bank, SBI has posed faith in the best-in-class scientific warehousing services of SLCM. We are the only company in the warehousing space which uses a proprietary technology called “AGRI REACH”. In a country like India where post harvest losses are pegged at 10 percent, our AGRI REACH has cut the post harvest losses to 0.5 percent irrespective of infrastructure, crop or geographic location.”
“This agreement with will further consolidate our position as a market leader in scientific warehousing with demonstrated track record of preventing post harvest losses,” Sabharwal added.