Lakshmi Vilas Bank & StarAgri Tie up for Agri-Financing and Collateral Management

Lakshmi Vilas Bank (LVB), one of the leading banks in India and Star Agriwarehousing and Collateral Management Limited (StarAgri), India’s leading agri-services & solutions provider, today announced that they have entered into a strategic tie up for Warehousing Receipt Financing and Collateral Management Services. This partnership will deliver post-harvest credit facility to farmers and players in agri-business chain all across India, with a prime motto to empower farmers through affordable finance, scientific storage facilities and fair price discovery of their produce.

The two companies aim to reach farmers and agri-traders across India with fair cost funding, warehousing, quality storage facilities through LVB’s rural, semi urban, metro and urban branches and StarAgri’s offices spread across India.

As a part of the tie up, LVB will provide post-harvest credit facilities while StarAgri will offer warehousing and other value-added services through its wide spread network of warehouses to farmers and agri-traders. The produce stored in StarAgri’s state-of-the-art warehouses will act as collateral for the finance extended by LVB.

This tie up is another initiative of LVB’s commitment to the Indian farmers and agri-traders with genuine credit and financing options. The collateral management services provided by Star Agri help the farmers in realising a better price and expand fully secured loans by Banks.

LVB, one of the leading banks in India, with a network of 400 branches across pan India with 2.50 million satisfied customer base, will use StarAgri’s ground experience and direct contact with farmers and agri-traders to ensure that genuine farmers get credit facilities and their produce is safe in the warehouses, till realisation. StarAgri, with a network of 25 branches, provides integrated post-harvest management solutions including 2200+warehouses in 16 different states, procurement and collateral management of agri-commodities. It also provides allied services such as testing, certification and transportation. The company manages 60+ agri commodities spread across India. It has direct relationships with more than 50,000 farmers, agri-processors and enterprises, banks, exporters and commodity exchanges.

About Lakshmi Vilas Bank:

Lakshmi Vilas Bank is founded in 1926 and it has a national presence serving over 2 million customers through its 400 branches, 7 Extension Counters and 750 ATMs, totaling close to 1100 outlets in 16 states and Union territory of Pondicherry.

The bank is active across the entire spectrum of customer segments - retail, mid-market and corporate. Through its branches, the bank also offers a host of    para-banking products in association with Life and General Insurance companies, mutual funds, stock broking houses, money remittance companies, etc. on a technologically advanced platform.