Yes Bank, India's new age private sector Bank, has entered into a strategic partnership with National Collateral Management Services (NCMSL), an agri-infrastructure player, for collateral management and warehousing services.
Yes Bank said that the objective of these services will be to assist industries, traders and farmers in financing their capital requirements at all stages of the supply chain, ranging from preharvesting to the marketing and export stages.
Yes Bank will also avail of their premium services such as working capital financing in commodity-based industries, especially agro based industries.
Yes Bank managing director and CEO Rana Kapoor said he believes that this partnership with NCMSL will further deliver value to all stakeholders of the bank, 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," Kapoor said.
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.