Kochi: India’s leading private sector bank, Federal Bank, has entered into a tie-up arrangement with M/s Edelweiss Integrated Commodity Management Ltd (EICML) for extending collateral management in commodity financing.
The tie up arrangement is expected to benefit farmers, traders and processors who are in need of finance, against the pledge of commodities instead of sale at low prices. EICML is one of the leading collateral management service providers with a pan-India presence.
The Memorandum of Understanding was signed by Antu Joseph, General Manager (Products), Federal Bank and Shekar Subramanyam, Vice President, Edelweiss Group at a function held at Federal Bank office at Mumbai. On the occasion, Antu Joseph spoke about the Bank’s scheme for financing against the warehouse receipt of Agri commodities for supporting the farmers to avoid distress sale.
Shekar Subramanyam, Vice President, Edelweiss Group and Antu Joseph, GM – Products, Federal Bank exchanged the MoU executed between Federal Bank and Edelweiss Integrated Commodity Management Limited for Collateral management Services.
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