Kolkata, Jul 26 : Sohan Lal Commodity Management Pvt. Ltd. (SLCM), India’s leading Agri services solutions provider having operations across India and Myanmar, has entered into a strategic partnership with the State Bank of India(SBI) for collateral management and warehousing services.
As part of this collateral management agreement, SLCM will be the custodian of the commodities which bank has taken as a security against the loans, issued by it. The Memorandum of Understanding (MoU) was signed by Mr. Ved Prakash, DGM, SBI and Mr. Ankur Jaipuria, Chief Business Officer, SLCM.
Speaking about the partnership, Mr. Ved Prakash, DGM, SBI said, “We have entered into an agreement for collateral management services with Sohan Lal Commodity Management Pvt. Ltd. (SLCM) a company known for providing modern scientific warehousing and commodity testing services. The agreement with SLCM underscores the importance of agribusiness and agri infrastructure for SBI. As part of the agreement, SLCM will manage the quantity and quality of the collateral which will help in mitigating the risk for the bank.”
Talking about the agreement with SBI, Mr. Sandeep Sabharwal, Group CEO, SLCM said, We are the only company in the warehousing space which uses a proprietary technology called “AGRI REACH”, for which patent is pending. In a country like India where post harvest losses are pegged at 10 per cent, our AGRI REACH has cut the post harvest losses to 0.5 per cent irrespective of infrastructure, crop or geographic location. (Accredited by FICCI in their Study).This agreement with SBI will further consolidate our position as a market leader in scientific warehousing with demonstrated track record of preventing post harvest losses."
As part of the agreement, SLCM will manage the quantity and quality of the collateral and the commodities will be stored in licensed & non-licensed warehouses. SLCM has been recognized by various industry and trade bodies such as the World Bank, ASSOCHAM, Times Group, Indo Global SME chamber, Golden Peacock and CII among others. (UNI)