Kissandhan Agri Financial services, a wholly-owned subsidiary of Sohan Lal Commodity Management Pvt Ltd (SLCM Group) today announced activation of loan facility at Latur mandi in Maharashtra. “We have activated loan facility at Latur mandi. New mandi activations will help Kissandhan in reaching out to more stakeholders of the agri-community; making them strong financially,” Sohan Lal Commodity Management Group Chief Executive Officer Sandeep Sabharwal said in a statement here.
The company said it has also started penetrating the market at Bikaner Mandi in Rajasthan and Narela Mandi in Delhi, which is Asia’s largest Mandi for rice and wheat.
Kissandhan is catering to all the major agri regions of the country namely, Haryana, Maharashtra, Punjab, Madhya Pradesh, Rajasthan, Delhi Gujarat, Uttar Pradesh and Uttarakhand.
The plans are to explore regions like West Bengal and Bihar and extend innovative financing solution to the entire agri community. The company has already impacted about 1,67,550 farmers till January 2017 and has plans to reach out to more than a lakh of agri-community members this year.
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Sabharwal said, “It is our endeavour to empower the agri-community with hassle free loans. We have disbursed loans in about 31 locations against 25 diverse commodities and handled 25,038 storage receipts till now with a 100 per cent year-on-year growth since beginning.
“We aim to continue and accelerate the growth rate in this financial year as well. Easy and quick availability of credit through Kissandhan will help all the stakeholders of agri value chain to get timely finance against their collateral which will further reduce the risk of distress selling.”
The RBI regulated non-banking finance company (NBFC), Kissandhan provides crop financing wherein storage receipts of agri-commodities are taken as collateral irrespective of the balancesheet/net worth of the borrower.