IndusInd Bank has collaborated with National Collateral Management Services Limited (NCMSL) in order to provide collateral management as well as warehousing services.

The MoU has been signed by NCMSL's Managing Director & CEO, Sanjay Kaul and IndusInd Bank's Head--Transaction Banking, Ramesh Ganeshan.

NCMSL has partnership with 16 major banks and in more than 200 locations across India.

Speaking on the issue, Kaul said, "we hope that this arrangement will result in substantial business across India. This new arrangement with IndusInd Bank 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."

NCMSL is a national-level institution, promoted by IFFCO , Canara Bank, Corporation Bank , 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.