Current Affairs

SBI’s Warehouse Agreement with SLCM

Current context: State Bank of India (SBI) has made an agreement with the New Delhi-based Agri services solutions firm Sohan Lal Commodity Management Pvt. Ltd. (SLCM).
SBI’s Warehouse Agreement with SLCM
  • The agreement is made for upkeeping mortgaged commodities as SLCM provides modern and scientific collateral management, warehousing and commodity testing services.
  • As per this, SLCM will now act as custodian of the SBI’s Agri commodities that it has taken as security against loans.
  • The SLCM will help in mitigating the risk of the bank by managing the quantity and quality of the collateral.
  • SBI has taken the step for enhancing its agribusiness and Agri infrastructure.
  • Sohan Lal Commodity Management Pvt. Ltd. (SLCM) is an Agri services solution provider and have operations across India and Myanmar.
  • It is the only company in the warehousing sector to use a propriety technology called “AGRI REACH” that helps in reducing the post-harvest losses.

Question: 

Q.1 SBI has signed an agreement with which company for upkeeping its Agri mortgaged commodities?
a. Systematic lending commodity Management
b. Sohan Lal Commodity Management
c. Shyam Lal Commodity Management
d. Systematic lowest commodity Management
SBI’s Warehouse Agreement with SLCM SBI’s Warehouse Agreement with SLCM Reviewed by Neha Verma on July 28, 2019 Rating: 5

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