Mangalore, September 14, 2012: Karnataka Bank, one of India s leading banks entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major agri-infrastructure player, for collateral management and warehousing services on September 10, 2012. The objective of these services will be to assist industries, traders and farmers in financing their capital requirements at all stages of the supply chain, ranging from pre-harvesting to the marketing and export stages. Chief Business Officer, NCML, signed the agreement with M S Mahabaleshwara Bhat, General Manager, Karnataka Bank Ltd., in the presence of V N Manohar, DGM, Karnataka Bank Ltd. and K Mahalingeshwara, AGM, Karnataka Bank Ltd. Commenting on this tie-up, MD & CEO, NCML said, We are confident that this arrangement will result in substantial new business across Karnataka and several other southern states of the country. This new arrangement with Karnataka Bank Ltd. will provide an opportunity to field functionaries to extend finance against warehouse receipts. Our warehouses spread across the country issue credible and reliable warehouse receipts. The tie up would further consolidate the bank s presence with the wide network of warehouses of NCML in various states across length and breadth of the country and in turn help NCML to better serve the stakeholders in the agri-supply chain. NCML is a national level institution, promoted by IFFCO, Rabo Bank, IFC, Canara Bank, State Bank of Patiala, Punjab National Bank, HDFC Bank, Karur Vysya Bank, YES BANK, NCDEX and HAFED, to provide risk management solutions in the areas of commodity and inventories. About Karnataka Bank Ltd. Karnataka bank Ltd was incorporated under Companies Act 1913 with a Banking Regulation Act 1949 & has its registered office at Kankanadi, Mangalore.
As a premier bank which developed comprehensive range of products & service suitable for every kind of market, trade or perceived need-business or personal. They include borrowing facilities, deposits, providing optimum returns on surplus funds or helping overseas transactions. About National Collateral Management Services Ltd (NCML) The National Collateral Management Services Limited (NCML) is the country s leading player in warehousing services, supply chain management solutions and testing & certification. It provides collateral risk management for lenders as well as risk management of physical deliveries for commodity exchanges. NCML works in partnership with 16 leading banks and in more than 200 locations across the country. The company provides these services to growers, traders, processors, importers, exporters, overseas buyers & sellers, lenders, commodity exchanges, exchange traders and government agencies. NCML is present in 18 states and union territories across India and its warehouses manage as many as 52 agricultural commodities as well as storage services for non-agricultural commodities and inventories. Incorporated in 2004, NCML has been promoted by reputed banks like Rabo Bank, Bank of India, Canara Bank, State Bank of Patiala, HDFC Bank, Indian Bank, The Karur Vysya Bank, Punjab National Bank and Yes Bank as well as organisations like IFC, NCDEX, IFFCO, HAFED and ACE Geneva. The company is governed by an independent and professional board. The company provides following services: storage & preservation, procurement & supply chain, collateral management, testing & certification, trade & commodity intelligence, weather intelligence and crop intelligence.