New Delhi, Dec 27 (PTI) Sohan Lal Commodity Management (SLCM) on Monday said it has signed a pact with the Tamil Nadu Foodgrains Marketing Yard (TFMY) in order to provide finance against commodities stored in the TFMY warehouse facility.
TFMY is a unique project that aims to provide necessary infrastructures for cereals, pulses and staples for milling cluster in and around Madurai.
In a statement, SLCM said the traders and processor can store their produce in the warehouse and apply for finance against warehouse receipts.
Most of the depositors of TFMY warehouse are the customers of banks that have a tie-up with SLCM as their ‘Empanelled Collateral Manager’. As a result, SLCM will be instrumental in smooth processing and easy facilitation of funds for the depositors, it added.
The SLCM Group offers technology-driven warehousing services such as scientific storage for agriculture commodities, fumigation, testing and certification and funding against storage receipts in India and Myanmar. PTI LUX HRS hrs
