Public sector lender, Punjab and Sind Bank and National Bulk Handling Corporation (NBHC), the country's leading integrated agri-commodity and collateral management company have joined hands in the field of warehouse based receipt financing. The deal was inked by Vijay Srivastava, general manager (priority sector), Punjab and Sind Bank and Anil Choudhary, MD & CEO of NBHC.

NBHC has association with 33 leading lenders in terms of collateral management. The wide network of the firm has enabled over 60,000 small and medium farmers to receive financing through warehouse receipt financing.

"With a view to increase direct agriculture advances against pledge of warehouse receipts and provide credit support to farmers, Punjab & Sind Bank and NBHC will jointly work to provide liquidity to farmers against their produce and thereby enable them to time their sale for optimal returns," Anil Choudhary, MD & CEO of NBHC said.

Through the deal, both entities plan to leverage on each other's competencies. With NBHC's network of over 900 and an equal branch count of Punjab and Sind Bank, the endeavor to reach out to maximum target audience would be appreciably achieved, feel both.

"With our own widespread network and NBHC's understanding of the commodity space and rich experience, we wish to increase direct agriculture advances against pledge of warehouse receipts and provide credit support to customers" said P K Anand, executive director, PSB.