Chennai: An MOU was signed between StarAgri Finance and KVB to provide co-lending services in agri-commodities in the four states of Tamilnadu, Karnataka, Andhra Pradesh and Maharashtra.
The partnership will help make institutional finance accessible to local commodity traders and farmers, a release from the firms said.
All loans will be provided against their agri-commodities stored in StarAgri’s scientifically planned and centrally managed warehouses, it added.
Commenting on the tie up, founder director, StarAgri, Amith Aggarwal, said, “KVB is one of the oldest and most respected financial institutions that provides finance to the trader community and agriculturists. We are offering a unique credit solution to our customers through our partnership with KVB.”
CEO, StarAgri Finance, Gurinder Singh Sehmbey, said, “It is an honour to partner with KVB, one of the oldest banks in our country. The partnership will ensure credit facilities to our rural customers via a formal lending system, which is transparent, genuine and one that enables them to grow their agri-businesses.”
The co-lending solution will be rolled out immediately so that it can accrue to all stakeholders of the agri community, said the release.