SBI, Cargill ink MoU for financing farmers

New Delhi, June 28 (UNI) State Bank of India (SBI) and M/s Cargill India Pvt Ltd have entered into an MoU for financing farmers and traders against warehousing receipts.

A MoU in this regard was signed here yesterday by , SBI Chief General Manager (Corporate Centre, Mumbai) Anup Benerji and Cargill India Ltd Director and Country Treasurer Deepayan Mohanty.

The memorandum provides a broad understanding between SBI and Cargill to finance farmers and traders against warehousing receipts.

For this purpose, Cargill will reserve space in warehouses of private owners, State and Central Warehousing Corporations through the country.

Cargill will also mobilise farmers and traders to store their produce in these warehouses.

The company will purchase their agricultural produce stored in such warehouses as per its purchase policy.

UNI GS CS ND1712