HDFC Bank launches India’s first Warehouse Commodity Finance app
New Delhi: In a first of its kind in the country, HDFC Bank launched a Warehouse Commodity Finance App which will enable customers in drawing down and managing the loan against pledge of commodities online without physical intervention or multiple visits to a Bank branch. This in turn will bring in enhanced efficiencies and time savings for the agri value chain. The new app will greatly benefit agri processors, traders and farmers who are primary beneficiaries of WHR loans (Warehouse Receipt Loans).
The App has been launched at a time when large parts of India are still unlocking, and travel restrictions are still in place. The App will be offered to both existing as well as new customers who avail warehouse receipt/commodity pledge loan from HDFC Bank.