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NCDEX tied up with Kotak Mahindra Bank to provide commodities loans

On Tuesday, National Commodity & Derivatives Exchange Ltd has announced its tie-up with the Kotak Mahindra Bank for the purpose of providing finance to the depositors of goods in warehouses approved by the exchange.

According to NCDEX statement, under the arrangement, farmers and traders who have kept their commodities in NCDEX-approved warehouses, can use such commodities as collateral for availing financial assistance from Kotak Mahindra Bank.

It further added that HDFC Bank, Axis Bank and Induslnd Bank are also associated with the exchange for providing this facility.

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