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Canara Bank, NCML in tie-up

AgriCanara Bank has signed an agreement with agri-infrastructure firm National Collateral Management Services (NCML) to provide finance for collateral management and warehousing services. With this partnership both NCML and Canara Bank aims to assist industries, traders and farmers in financing their capital requirements at all stages of the supply chain. NCML MD and CEO Sanjay Kaul said the tie-up will help in the spread of the agricultural finance and promote warehousing receipt financing across the country. NCML deals in warehousing services, supply chain management solutions and testing & certification. It provides collateral risk management for lenders and also risk management of physical deliveries for commodity exchanges. It is present in 18 states and union territories across India and its warehouses manage 70 agricultural commodities.

Auto maker Mahindra & Mahindra too has has tied up with Canara Bank to provide loan facility to its customers. The company has entered into a preferred financier tie-up with the bank and this will enable Mahindra customers to avail of a car loan from any of the 4,600 branches of the bank.

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