ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Stock Market Outlook: Our dependence on US market limited now, next 10-15 years belong to India, says Anil Singhvi | Here's why
  • Toyota Hyryder Unveiled: Toyota India unveils new self-charging hybrid electric SUV in India; check details
  • Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms
  • Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » Companies News

Srei, Oriental Bank of Commerce ink strategic alliance to offer loans for equipment, commercial vehicle purchase

The partnership will allow Srei Equipment and Oriental Bank of Commerce to collaborate, co-operate and widen their respective markets and customer base.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Srei, Oriental Bank of Commerce ink strategic alliance to offer loans for equipment, commercial vehicle purchase
Srei Equipment Finance and Oriental Bank of Commerce announced a strategic alliance to offer loans for purchase of equipment under a co-lending arrangement. Photo: Reuters

In a bid to jointly finance infrastructure equipment, commercial vehicles through iQuippo platform Srei Equipment Finance Limited, a wholly-owned subsidiary of Srei Infrastructure Finance Limited, and Oriental Bank of Commerce today announced a strategic alliance to offer loans for purchase of equipment under a co-lending arrangement. iQuippo, a Kanoria Foundation initiative, will facilitate the sourcing of loans under this program. The partnership will allow Srei Equipment and Oriental Bank of Commerce to collaborate, co-operate and widen their respective markets and customer base. Financing of construction, mining and allied equipment ("CME"), medical equipment, commercial vehicles and farm equipment will be covered under this arrangement.

Commenting on the partnership, Sunil Kanoria, Vice Chairman at Srei said, "With a stable government in place the infrastructure sector in India is expected to grow rapidly. Srei Equipment and Oriental Bank of Commerce's combined experience and expertise in offering innovative financing solutions will help us in expanding our reach and create value for our customers."

Devendra Kumar Vyas, Managing Director, Srei Equipment Finance Limited said, "This strategic alliance reaffirms our commitment towards offering best in class financial solutions to our customers. It is a 'win-win' relationship for both Oriental Bank of Commerce and Srei Equipment Finance; as the bank will benefit from our strong domain expertise and stakeholder relationships in the equipment financing space and Oriental Bank's support will help us in strengthening our leadership position further in this segment." 

Anant Raj Kanoria, CEO, iQuippo added, "We at iQuippo are very excited to have Oriental Bank of Commerce join our club of finance partners. The partnership will allow us an opportunity to leverage the bank's strong presence in the north. Also, the platform will allow the Oriental Bank of Commerce seamless access to the SME and MSME markets in an efficient and transparent manner. With the government and the central bank focusing on pushing our country towards a more digital economy, this partnership would play a vital role in moving towards that direction."

The two partners will use the platform of iQuippo, a unique digital marketplace, for loan origination, loan dues collection, auction of equipment, valuation of equipment and several other facilities provided by the platform. With over 70,000 customers and over $400 million loans disbursed through iQuippo, the platform will aid both Srei Equipment and Oriental Bank of Commerce in deepening their reach in infrastructure equipment and commercial vehicles segments further.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
SreiOriental Bank of Commerce
Written By: Asit Manohar
Updated: Mon, May 27, 2019
10:12 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Green boost! Dutch Development Bank FMO grants $30 million credit line to Srei Equipment Finance Green boost! Dutch Development Bank FMO grants $30 million credit line to Srei Equipment Finance
Q4FY19 Results: Srei posts 29 pct consolidated growth in FY2019, reports PAT of Rs 487.78 Crore Q4FY19 Results: Srei posts 29 pct consolidated growth in FY2019, reports PAT of Rs 487.78 Crore
Srei Equipment Finance, Bank of Baroda to co-lend through iQuippo platform Srei Equipment Finance, Bank of Baroda to co-lend through iQuippo platform

LATEST NEWS

Stock Market Outlook: Our dependence on US market limited now, next 10-15 years belong to India, says Anil Singhvi | Here's why

PAN-Aadhaar Link: Don't know if your PAN linked with Aadhaar? Check steps here now or else pay double penalty from July 1

Maruti Suzuki, Ashok Leyland: What makes brokerages bullish on these auto stocks?

Oil India Limited completes beta demo of hydrogen powered bus developed under its Startup programme SNEH

OnePlus Nord 2T 5G price in India starts at Rs 28,999 - Check offers, availability and specifications

Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city

Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms

Crisil cuts FY23 GDP growth estimate to 7.3%

GST Council Meeting: Full details of goods and services, where rates hiked or slashed

EXCLUSIVE: Start investing in large-cap stocks, Invest in IT, Auto, Capital Goods, and Private Bank stocks says the market expert

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV