The public lender to use Sohan Lal Commodity Management’s services for the upkeep of mortgaged commodities
The New Delhi-based agri services solutions firm Sohan Lal Commodity Management Pvt. Ltd. (SLCM) on Friday it entered into an agreement with State Bank of India (SBI) for collateral management and warehousing services.
As part of the pact, SLCM will act as custodian of the commodities that SBI has taken as a security against loans, said a press statement here. “We have entered into an agreement for collateral management services with SLCM, a company known for providing modern scientific warehousing and commodity testing services. This underscores the importance of agribusiness and agri infrastructure for SBI,” said SBI DGM Ved Prakash, who signed the pact with Ankur Jaipuria SLCM’s Chief Business Officer.
SLCM group Chief Executive Officer Sandeep Sabharwal said the agreement with India’s largest bank would consolidate the firm’s position as market leader in scientific warehousing. Its patent-pending commodity warehousing solution, Agri Reach has already shown to cut post harvest losses, which are otherwise at 10 per cent, to 0.5 per cent irrespective of infrastructure, crop or geographical location, Sabharwal said.
Source; BL
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