Stock exchange major BSE has entered into an agreement with agri-services solutions provider Sohan Lal Commodity Management (SLCM) to support its launch of agri-commodities trade, a statement said on Wednesday.
Under the agreement, SLCM shall provide warehousing, assaying services and crop management services to BSE for the purpose of storage of various food grains, pulses and other agro-based commodities at various locations in India, according to the joint statement.
"Under the agreement, BSE will recognize some of SLCM's warehouses as BSE storage or delivery centres. SLCM will also carry out rating exercise at the warehouses as per its rating system and make arrangements for the display of commodity balances and price information, as necessary," the statement said.
"The rating system will be recognized for borrowing from the banks and other lending institutions and it will act as a yardstick for the purposes of trading and delivery on the commodity exchange."
--IANS
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