Karnataka Bank has entered in to a memorandum of understanding with National Bulk Handling Corporation for extending storage facilities to farmers and finance against the warehouse receipts (WHR). NBHC is one of the leading collateral management service providers with a pan-India presence, managing about 1500 warehouses and cold storages. Finance to farmers will be extended under Krishik Bhandar scheme of the bank. NBHC has nominated Karnataka Bank as preferred financier for extending finance to farmers against the ware house receipts. Farmers can avail of the service of NBHC with a nominal fee. This is another initiative from Karnataka Bank, which will help farmers to store their agriculture produce to avoid distress sale, during harvesting time earn better price and simultaneously avail loan for further agricultural operations.
