Sohan Lal Commodity Management (SLCM), India’s leading agri services solutions provider company, today tied-up with HDFC Bank and IndusInd Bank to provide collateral management services. SLCM will leverage its proprietary (patent pending) technology ‘Agri Reach’ and support both these banks towards offering more efficient post-harvest credit and storage service to farmers, millers and other stakeholders in the agriculture and agribusiness sector.
The tie-up help improve the farmers’ access to post-harvest credits at affordable interest rates. Besides, it will also provide easy access to scientific storage facilities leading to a fair price discovery of their produce in the market. SLCM’s Agri Reach with its scientific technology and standard operating procedures has been able to demonstrate its capability to reduce post-harvest losses from the current 10 percent to a mere 0.5 percent irrespective of infrastructure, crop or geographical location.
With these tie-ups, the beneficiaries availing loan from HDFC Bank and IndusInd Bank join a long list of national and international clients who have benefitted from the scientific technology driven practices at SLCM. With a presence across 17 states in India, SLCM has a network of 2,100 warehouses backed by a reliable scientific management system for over 725 commodities, including cotton, pulses, maize, spices, mentha oil, among others as on November 30, 2017.
Commenting on the developments, SLCM Group CEO, Sandeep Sabharwal said, “The tie-up with two of India’s leading banks is a big endorsement for our collateral management services model using our Agri Reach technology. Like the other six banks and financial institutions with whom we have tie-ups in India, both these banks can also now benefit from our vast network of warehouses and expertise to facilitate loans to entities across the agri ecosystem without the fear of default or loss. We look forward to more such tie-ups with other leading banks and help them reach out to India’s diverse farming community.”
“ At SLCM, we provide a robust system oriented warehousing support with an assurance of finest crop safety solutions,” Sabharwal added.