J&K Bank Ties-up with NCML for Collateral Management & Warehousing Services

J&K Bank, one of India’s leading banks entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist industries, traders and farmers in financing their capital requirements at all stages of the supply chain, ranging from pre-harvesting to the marketing and export stages.

Mr. Tribhuwan Singh Bora, Regional Manager, NCML, signed the agreement with Mr. Arvind Gupta, Vice President, J&K Bank Ltd in the presence of Mr. Rajesh Gupta, Asst Vice President, J&K Bank.

Commenting on this tie-up, Mr. Sanjay Kaul, MD & CEO, NCML said, “We are confident that this arrangement will result in substantial new business across J&K and several other northern states of the country. This new arrangement with J&K Bank Ltd. will provide an opportunity to field functionaries to extend finance against warehouse receipts. Our warehouses spread across the country issue credible and reliable warehouse receipts. The tie up would further consolidate the bank’s presence with the wide network of warehouses of NCML in various states across length and breadth of the country and in turn help NCML to better serve the stakeholders in the agri-supply chain.”

NCML is a national level institution, promoted by IFFCO, Rabo Bank, IFC, Canara Bank, State Bank of Patiala, Punjab National Bank, HDFC Bank, Karur Vysya Bank, YES BANK, NCDEX and HAFED, to provide risk management solutions in the areas of commodity and inventories.

About J&K Bank Ltd.:

J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country. It is also the only private sector bank designated as RBI’s agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT.

J&K Bank operates on the principle of 'socially empowering banking' and seeks to deliver innovative financial solutions for household, small and medium enterprises.

The Bank, incorporated in 1938, and is listed on the NSE and the BSE. It has a track record of uninterrupted profits and dividends for four decades. The J&K Bank is rated P1+, indicating the highest degree of safety by Standard & Poor and CRISIL.

About National Collateral Management Services Ltd (NCML):

The National Collateral Management Services Limited (NCML) is the country’s leading player in warehousing services, supply chain management solutions and testing & certification. It provides collateral risk management for lenders as well as risk management of physical deliveries for commodity exchanges. NCMSL works in partnership with 16 leading banks and in more than 200 locations across the country.

The company provides these services to growers, traders, processors, importers, exporters, overseas buyers & sellers, lenders, commodity exchanges, exchange traders and government agencies. NCMSL is present in 16 states and union territories across India and its warehouses manage as many as 70 agricultural commodities as well as storage services for non-agricultural commodities and inventories.

Incorporated in 2004, NCMSL has been promoted by reputed banks like Rabo Bank, Bank of India, Canara Bank, State Bank of Patiala, HDFC Bank, Indian Bank, The Karur Vysya Bank, Punjab National Bank and Yes Bank as well as organisations like IFC, NCDEX, IFFCO, HAFED and ACE Geneva. The company is governed by an independent and professional board.

The company provides following services: storage & preservation, procurement & supply chain, collateral management, testing & certification, trade & commodity intelligence, weather intelligence and crop intelligence.

For more information please contact:

Delna Irani / Ujjawal Punmiya

Adfactors PR

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