StarAgri Finance, a subsidiary of StarAgri Warehousing and Collateral Management, and Karur Vysya Bank have entered into a strategic tie-up for co-lending against agriculture commodities stored in the StarAgri’s warehouses.
A Memorandum of Understanding was signed between StarAgri Finance and KVB for co-lending services in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra. This partnership will help make institutional finance accessible to local commodity traders and farmers. Loans will be provided against their agriculture commodities stored in StarAgri’s scientifically planned and centrally managed warehouses.
Amith Aggarwal, Founder Director, StarAgri said the partnership offers a unique credit solution to customers and it will be rolled out immediately so that the benefits can accrue to all stakeholders of the agriculture community.