Srei Equipment, UCO Bank enter pact for joint loans

Srei Equipment, UCO Bank enter pact for joint loans
Kolkata, Feb 18 () Srei Equipment Finance Ltd hasentered into a pact with state-owned UCO Bank to offer jointloans for purchase of construction, mining, farm and medicalequipment.

iQuippo, a Kanoria Foundation initiative, willfacilitate sourcing of loans under this programme, a companystatement said on Tuesday.

The partnership will allow Srei Equipment Finance -- awholly-owned subsidiary of Srei Infrastructure Finance Ltd --and UCO Bank to collaborate, co-operate and widen theirrespective markets and customer base, it said.

The strategic alliance will also allow both lenders toleverage each other's customers and cross-sell their products.
"UCO Bank's strong track record and wide reach,especially in eastern India, makes us confident about thesuccess of this programme," said Sunil Kanoria, vice-chairman,Srei. The alliance will also help in fulfilling thegovernment's vision of making credit available to MSME andretail customers in the infrastructure space at an affordablecost, he said. DCRBT RBT

(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)