Shree Shubham Logistics signs MoU with DCB
Tie-up to benefit hundreds of farmers in availing post-harvest credit facilities
Tweet-- Shree Shubham Logistics limited, a subsidiary of Kalpataru power transmission limited, today announced the signing of Memorandum of Understanding (MoU) with Development Credit Bank, facilitating post harvest credit facilities for farmers against warehouse receipts.
SSLL, managing a complete commodity value chain at its own Agri Logistics Parks at 10 locations in Rajasthan and Gujarat and expanding its footprint by setting up 17 ALPs in next 1-2 years in the state of Madhya Pradesh and Maharashtra, has ambitious plans to develop 41 ALPS across the country.
As per the arrangement, Shree Shubham Logistics Ltd, providing end-to-end solutions to all the commodity stake holders in the agricultural and non-agricultural segment with a pan-India presence, will provide collateral management to DCB for extending post-harvest credit facilities to farmers, Agri enterprises and processors.
“We are pleased to sign the agreement with Development Credit Bank. SSLL and DCB will jointly work to provide liquidity to farmers against their produce and thereby enable them to time their sale for optimal returns. We see warehouse receipt financing as a great opportunity and we will be an aggressive player in this business”, said Mr. Bafna
”Our services coupled with the bank’s good network will provide financial flexibility to farmers. It will reduce the seasonal price fluctuation and distress sales during the crop harvest season”, Mr. Bafna said.
Commenting on the business tie up Mr. Narendranath Mishra, Head - Agri, Micro Finance & Rural Banking DCB said, “This tie-up between DCB and SSLL will focus on the producers at the start of the supply chain. Farmers can secure post harvest credit facilities from DCB so that they do not have to resort to distress selling of their produce”.
Mr. Mishra said, “The tie-up will provide an opportunity to the bank to extend finance against warehouse receipts by utilizing collateral management services from SSLL”.
This is yet another endeavour of SSLL to help the agriculture sector by bridging the gap between producer and banks by providing collateral management services, thereby, assisting the banks, as well as the farmers and other key stake holders in the commodity sector.
Notes to Editor
About Shree Shubham Logistics Limited (SSLL):
Shree Shubham Logistics Limited (SSLL) is a subsidiary of Kalpataru Power Transmission Limited (one of world's leading companies in the design, testing, fabrication, erection, and construction of transmission lines and substation structures on a turnkey basis across India & overseas) SSLL is focused in developing Commodity Warehousing Logistics parks at strategic locations in the country.
The key objective is to develop multi-function facilities catering to ambient temperature warehousing, Cold Storage, processing units, auction yard, weigh bridges and other support amenities. The other key objectives of the company are to offer end-to-end logistics solutions with a pan-India presence, to all the commodity stake holders in the agricultural and non-agricultural segment including, but not limited to warehousing, cold storage services, and third party logistics, across the country.
SHREE SHUBHAM LOGISTICS LIMITED is developing its first set of warehouses in Rajasthan, Gujarat, Maharashtra and Madhya Pradesh.
The knowledge, experience and financial strength behind Shree Shubham Logistics Limited, have been brought together to deliver service and infrastructure of the highest quality and efficiency, in the best locations, for our farmers’ needs.
Our mission is to support this neglected sector with respect to quality infrastructure which in turn will substantially reduce wastage and quality deterioration of agricultural produce and give a high return to the Indian farmers.
Our Agri Logistics Park will enable the farmer to create their local markets by using our Auction Yards which will bring together like products helping them in leveraging information, value and enhancing their understanding/knowledge of regional and national scenario. Our platforms will increase the transparency and bring about fair business practices in the agriculture sector giving true value to our farmers.
SSLL’s initiative to build over 41 Agri Logistics Parks in about 9 States of India calls for an investment of over Rs. 600 crores.
About DCB
A new generation private sector bank, Development Credit Bank (DCB) is the preferred banking services provider across 80 branches across 10 states and two union territories. The Bank has recently launched several value added initiatives and intends to become one of the country’s preferred and profitable private sector banks, providing a comprehensive suite of “best in class” products for customers in Retail, SME and Corporate Banking market segments in chosen geographies.
DCB has deep roots in India since its inception in 1930. Its promoter the Aga Khan Fund for Economic Development (AKFED) holds over 26% stake. AKFED is an international development agency dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world. It had co-promoted HDFC in India in the late seventies. AKFED operates as a network of affiliates comprising 90 separate project companies. Employing over 30,000 people, it reported annual revenues in excess of US$1.5 billion. The Fund is active in 16 countries in the developing world.
To know more details please login at www.dcbl.com & www.akdn.org/akfed
