Federal Bank ties up with data portal for loans against warehouse receipts

Posted on:08 Feb 2017 18:07:22
Federal Bank ties up with data portal for loans against warehouse receipts
08 February 2017 Current Affairs: Federal Bank has partnered with leading online data and information portal Commodity Online 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 its flagship portal www.commodityonline.com where farmers and traders can track commodity markets and warehouses online and get financing for their commodities quickly.

According to Mohan K, Deputy General Manager (SME & Agri), Federal Bank, the bank’s partnership with Commodity Online enables it to aggressively get into the online space to provide financing for agri commodities with collateral management across India.

George Iype, Managing Director of Commodity Online, said the portal has rolled out an exclusive online platform wherein farmers and traders can track the spot market prices of all commodities live, check where warehouses are available and track research insights from each commodity market across India.

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