Usher Agro signs MoU with NBHC for providing storage & handling of food grains

NBHC is building first warehousing complex with a capacity of 50,000MT for storage of food grains exclusively for Usher Agro at Chhata district in Mathura

Usher Agro, one of the largest rice millers in India, has signed a memorandum of understanding (MoU) with National Bulk Handling Corporation (NBHC) for providing storage and handling of food grains across India to the company on long term basis.

In this context, NBHC is building first warehousing complex with silo with a capacity of 50,000MT for storage of food grains exclusively for the company at Chhata district in Mathura, Uttar Pradesh.

Earlier in March 2011, Usher Agro has reported a capacity increase in its rice milling facilities at Chhata, Mathura.

On Monday, Usher Agro ended 0.97% up at Rs124.35 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.94% to 18,412.41.

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AGS Transact Technologies wins order worth Rs27 crore from IOCL

The order is scheduled to be executed by February 2012

AGS Transact Technologies, one of the leading system integrators in the business of touch-point transformations, has won an order worth Rs27 crore from Indian Oil Corporation (IOCL).

AGS Transact will set up automatic tank gauging systems comprising 4,100 measuring probes and 1,025 consoles to be installed at 1,025 retail outlets spread across western & southern regions of India. The order is scheduled to be executed by February 2012.

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National Small Industries in talks with SBI for cheap loans for MSMEs

National Small Industries has already signed pacts with banks like Yes Bank, Axis Bank and Central Bank of India

National Small Industries Corporation (NSIC) is in talks with the State Bank of India for a pact, under which the country's largest lender would provide easy and affordable credit to small and medium-sized firms.

NSIC has already signed such pacts with banks like Yes Bank, Axis Bank and Central Bank of India.

"More and more banks are coming up to sign agreements with us as they want MSMEs to be their customers. Now we are in negotiations with State Bank of India," NSIC chairman-cum-managing director HP Kumar told PTI.

Kumar also said that the corporation is helping the units in getting credit ratings from firms like Crisil and Fitch.

The rating helps them in getting loans at concessional rates, Kumar said, adding that during the fiscal, NSIC would assist about 18,000 MSMEs to get the ratings.

Almost 10,200 units got ratings in the last fiscal year. NSIC provides coal, steel and aluminium to small firms at bulk discount rates.

MSMEs face credit crunch as they fail to fulfil collateral requirements and have limited access to equity capital. There are about 26 million enterprises, which provide employment to almost 60 million people.

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