L&T Finance has partnered with NCMSL
Financial holding company L&T Finance has partnered with National Collateral Management Services (NCMSL) for collateral management and warehousing services.
The partnership will allow L&T to assist industries, traders and farmers in financing their working capital requirements at all stages of the supply chain, ranging from pre-harvesting to the marketing and export stages.
Dinanath Dubhashi, L&T’s CEO comments: “L&T has already started warehouse receipt finance in selected territories and envisages expanding the business after the initial good response. Given the demonstrated track record of NCMSL, the partnership will enable L&T Finance to mitigate credit risk for its commodity finance product offerings.”
NCMSL most recently partnered with India’s Corporation Bank and altogether has collaborated with 16 institutions.
The firm manages approximately 70 agricultural commodities and storage services for non-agricultural commodities and inventories.