UBI, Srei Equipment Finance enter pact for MSME sector finance

Under the pact, UBI would leverage its low-cost loans with Srei to enable  purchase  of equipment and vehicles in a seamless manner, a statement by the state-run lender said.

UBI, Srei Equipment Finance enter pact for MSME sector finance
UBI would leverage its low-cost loans with Srei to enable purchase of equipment and vehicles in a seamless manner, Image source: PTI
Written By: PTI
Updated: Sat, Jan 05, 2019
05:07 pm
Kolkata, PTI

United Bank of India and Srei Equipment Finance have entered into an agreement for financing the MSME and agriculture sectors.

Under the pact, UBI would leverage its low-cost loans with Srei to enable purchase of equipment and vehicles in a seamless manner, a statement by the state-run lender said.

United Bank MD and CEO Ashok Kumar Pradhan hailed the agreement as a "saviour" for the MSME units "starved" of low-cost funds to compete globally and upscale themselves. 

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