J&K Bank has entered into an agreement with post-harvest solutions company Staragri to provide affordable financing to farmers and agri-traders. The partnership will focus on collateral management services and warehousing receipt financing. As a part of the deal, J&K Bank will provide post-harvest credit facilities while Staragri will offer warehousing and other value-added services through its wide spread network of warehouses to farmers and agri-traders. J&K Bank senior president S K Bhat said the bank’s aim is to empower farmers through affordable finance, scientific storage facilities and fair price discovery of their produce. With increased focus on agricultural sector, the tie-up is literally a shot in the arm as it will facilitate easy access to secure low-cost credit for the farming community and improve their output in markets thereby realising higher incomes, he said. Staragri GM Rajesh Gupta said the produce stored in Staragri’s state-of-the-art warehouses will act as collateral for the finance extended by J&K Bank.
