Federal Bank and Commodity Online have tied up for the distribution of loans against warehouse receipts and collateral management services across the country. Commodity Online will roll out an agri commodity financing platform through commodityonline.com where farmers and traders can track commodity markets and warehouses online and get quick financing for their commodities. Mohan K, deputy general manager (SME&Agri), Federal Bank, said the bank is keen to step up the agri commodity financing business through commodityonline.com as it has huge potential in a mainly agrarian country like India. George Iype, managing director of Commodity Online, said the portal has rolled out an online platform wherein farmers and traders can track the spot market prices of all commodities live, check the availability of warehouses and track research insights from commodity markets nationwide.
