Syndicate Bank, BEML ink pact

Syndicate Bank, BEML ink pact
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Highlights

Syndicate Bank and BEML Limited announced signing of a MoU for financing of earthmoving and construction equipment manufactured by BEML Limited.

Hyderabad: Syndicate Bank and BEML Limited announced signing of a MoU for financing of earthmoving and construction equipment manufactured by BEML Limited.

Under the MoU, the BEML will nominate the Syndicate Bank as preferred financier for financing its customers.

The customers will be provided loans in the range of Rs 20 lakh to Rs 300 lakh at preferential pricing by Syndicate Bank.

Financing Equipment of BEML will be covered under 'Special' scheme of the bank with preferential pricing by BEML.

Syndicate Bank and BEML expect to book a business of Rs 100 crore by March 2020 under this tie-up.

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