SLCM partners with Punjab National Bank and Bandhan Bank to offermanagement solutions
Sohan Lal Commodity Management (SLCM), India’s largest post-harvest logistics and agri-solutions company, has announced a strategic partnership with Punjab National Bank (PNB) and Bandhan Bank to provide ‘Unified Collateral Management Solutions,’ aimed at facilitating post-harvest credit for farmers and agricultural stakeholders at competitive rates across the country.
Under this partnership, SLCM will utilise its proprietary technology, ‘Agri Reach,’ to enhance the efficiency of post-harvest credit and storage services for both banks.
The ‘Agri Reach’ platform, recognised for reducing post-harvest losses from 10 per cent to just 0.5 per cent, as per a report by the FICCI, has already benefited millions of farmers and other stakeholders in the agricultural supply chain.
With over 15 years of experience and established relationships with more than 23 leading banking institutions across India and Myanmar, SLCM is a market leader in post-harvest management.
The company provides scalable, field-tested collateral management solutions, including a digitized warehouse management platform, commodity quality and quantity management, risk management, and security services.
Growers who will benefit
This collaboration brings together the financial expertise of PNB and Bandhan Bank with SLCM’s innovative collateral management and warehousing services. The joint effort aims to offer farmers and agribusinesses a seamless experience, allowing them to store their harvests securely while accessing essential financial support.
SLCM’s extensive network spans 19 states in India, operating over 16,742 warehouses and 36 cold storage facilities, and providing post-harvest solutions for more than 1,080 commodities, as of September 30, 2024. The partnership is expected to benefit farmers dealing in commodities such as cotton, pulses, maize, spices, and mentha oil, ensuring they have access to comprehensive finance and collateral management services.
Sandeep Sabharwal, Group CEO of SLCM, said, “Our partnerships with 16 banks in India have established us as a “preferred partner” for financial institutions across the industry.”
“Our latest tie-ups with Punjab National Bank and Bandhan Bank are a testament to their invested faith in our innovative and scientific approach to post-harvest management platform.”
“By leveraging our Phygital infrastructure and cutting-edge Agri Reach technology, we are enabling our banking partners to provide farmers with efficient and secure loans, reducing the risk of default and ensuring better financial access for the entire agricultural ecosystem.”