SBI and StarAgri team up for Indian farmers
The State Bank of India (SBI) and agri-services provider StarAgri Warehousing have teamed up to offer warehouse receipt financing and collateral management services to Indian farmers.
Under the partnership, SBI will offer post-harvest credit facilities, while StarAgri will store goods in its warehouses to act as collateral for the loans extended by SBI.
The two organisations aim to empower Indian farmers, joint liability groups and producer companies through “affordable finance, scientific storage facilities and fair price discovery of their produce”.
SBI plans to lend around Re5bn through this partnership.