Private sector lender, Yes Bank and the National Collateral Management Services Limited (NCMSL) have entered into a strategic partnership for collateral management as well as warehousing services.

The services would mainly work to aid industries, traders and farmers in managing their working capital needs at different levels of the supply chain. All stages like the pre harvesting, marketing, exporting will be covered in the range of services offered.

Mr Rana Kapoor, managing director & CEO, YES Bank said, "Since inception, YES BANK has adopted a knowledge driven approach with a focus on the emerging sectors of the Indian economy. Food & Agribusiness and Agri Infrastructure have been key focus areas and I truly believe that this partnership with NCMSL will further deliver value to all our stakeholders, and is in accordance with the Bank's Development Banking philosophy. Given the excellent and demonstrated track record of NCMSL, this partnership will enable us to mitigate credit risk for our Commodity Finance product offerings."

Speaking in regard to the alliance, Mr Sanjay Kaul, managing director & CEO, NCMSL said, "We are confident that this arrangement will result in substantial new business across India. This new arrangement with YES 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.