For Post Harvest Credit, SLCM Ties-up with HDFC, IndusInd Bank
KOLKATA: To provide collateral management services, Agri service solutions provider Sohan Lal Commodity Management (SLCM) having operations across India and Myanmar has tied up with HDFC BankBSE -0.62 % and IndusInd BankBSE 0.81 %.
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 sector.
This tie-up will not only help improve the farmers' access to post-harvest credits at affordable interest rates, but also it will provide easy access to scientific storage facilities leading to a fair price discovery of their produce in the market.
To reduce post-harvest losses from the current 10 percent to a mere 0.5 percent irrespective of infrastructure, crop or geographical location, SLCM's Agri Reach with its scientific technology and standard operating procedures has been able to demonstrate its capability. This has been duly validated in a study by the industry body FICCI as well.
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 these strategic tie-ups.
With a presence across 17 states in India, SLCM has a network of 2100 warehouses backed by a reliable scientific management system for over 725 commodities, including cotton, pulses, maize, spices, mentha oil, among others as on 30th November 2017.