Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    SIDBI joins hands with TDB to support MSMEs

    December 1, 2023

    Quickwork raises $2.5 mn in funding round led by DMI Sparkle Fund to democratise enterprise automation

    November 21, 2023

    Radiant Cash Management Services announces foray into fintech with the acquisition of Acemoney

    November 21, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » L&T Finance launches Warehouse Receipt Financing
    NBFC

    L&T Finance launches Warehouse Receipt Financing

    Dinanath Dubhashi, Managing Director & CEO of L&T Finance Holdings Ltd. said, “Our Lakshya is to become a top-class, customer-focused, digitally-enabled retail finance company by 2026, or even before that. In line with the same, we are consistently working upon engaging our customers with products that are suited to their requirements and at the same time, are available when they need them. WRF is one such offering from our end which promises quick disbursement and flexible repayment with no foreclosure charges."
    April 1, 20233 Mins ReadBy Bfsinxt Desk
    Twitter LinkedIn WhatsApp

    L&T Finance Limited (LTF), a Non-Banking Financial Companies, has launched Warehouse Receipt Financing (WRF), a digitally-assisted journey for loan facilities against agri-commodities.

    WRF facilitates the use of commodities as collateral to secure loans. Commodities are stored in professionally managed warehouses by empaneled collateral managers. Under this arrangement, commodities are checked for quality and quantity, based on which a receipt is issued by the collateral manager to farmers, traders and processors. The receipt can then be used as a collateral to avail loan facilities from LTF, the non-bank lender said in a statement.

    As per the NBFC, WRF will be available for customers in four states, namely Maharashtra, Madhya Pradesh, Rajasthan and Gujarat, and will revolutionise the way this product is offered. Currently, these facilities are offered by the market in a traditional manner which is primarily manual in nature and takes anywhere between 7-10 days for each loan application to get sanctioned. With the launch of this product, customers will get a never before experience of obtaining a sanction within 24 hours of filing the loan application and having all the information related to their loans at their fingertips through the mobile application PLANET, it said in a release.

    Farmers, traders and processors can avail this facility at the nearest LTF branch at attractive interest rates for an amount ranging between Rs.1 lakh to Rs.10 crore. The amount sanctioned will be based on eligibility checks and the loan margin range, which shall be between 25 percent and 30 percent of the market value of the commodity, based on quality parameters.

    Dinanath Dubhashi, Managing Director & CEO of L&T Finance Holdings Ltd. said, “Our Lakshya is to become a top-class, customer-focused, digitally-enabled retail finance company by 2026, or even before that. In line with the same, we are consistently working upon engaging our customers with products that are suited to their requirements and at the same time, are available when they need them. WRF is one such offering from our end which promises quick disbursement and flexible repayment with no foreclosure charges.”

    Dubhashi added, “The Rabi sowing season in India has ended with a record acreage of 720 lakh hectares in this crop year, which is the highest in the past five years. In such a scenario, we are hopeful that these loans will help our customers meet their working capital requirements in a convenient manner. Additionally, it will also help stabilise the supply of commodities and prices in the market, improve growers’ income, and reduce food losses.”

     

    L&T L&T Finance
    Previous ArticleICICI Bank offers Ecosystem Banking for Indian Startups
    Next Article Neobank Chqbook Collaborates with ICICI Lombard General Insurance
    Bfsinxt Desk

    Related Posts

    SIDBI and GAME launch NGAP – accelerator for small NBFCs

    October 19, 2023

    Manappuram Finance inks MoU with JCB India

    October 16, 2023

    Satin Creditcare appoints Bhuvnesh Khanna as President of Satin Finserv Limited

    July 25, 2023

    Shriram Housing Finance Ties up with DocOnline to Offer Healthcare Benefits to Customers

    July 25, 2023

    Leave A Reply Cancel Reply

    Recent Posts

    • SIDBI joins hands with TDB to support MSMEs
    • Quickwork raises $2.5 mn in funding round led by DMI Sparkle Fund to democratise enterprise automation
    • Radiant Cash Management Services announces foray into fintech with the acquisition of Acemoney
    • PhonePe crosses 500 million lifetime registered users, rejigs top brass
    • Zurich Insurance to acquire 51% stake in Kotak General Insurance for ₹4,051 crore

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    SIDBI and GAME launch NGAP – accelerator for small NBFCs

    October 19, 2023

    Manappuram Finance inks MoU with JCB India

    October 16, 2023

    Satin Creditcare appoints Bhuvnesh Khanna as President of Satin Finserv Limited

    July 25, 2023

    Shriram Housing Finance Ties up with DocOnline to Offer Healthcare Benefits to Customers

    July 25, 2023
    New Policy
    Policy

    Reserve Bank of India opens Sub-office in Itanagar, Arunachal Pradesh

    October 23, 20230By Bfsinxt Desk

    On October 20, 2023, Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI), inaugurated…

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 2022

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.