Syndicate Bank and BEML have signed a MoU for financing Earth Moving & Construction Equipment manufactured by BEML.
Under the MOU, BEML will nominate Syndicate Bank as a preferred financer for financing its customers. The customers under the tie-up arrangement will be provided loans in the range of Rs. 20 lakh to Rs. 3 crore and preferential pricing by Syndicate Bank. Financing Equipment of BEML will be covered under 'SPECIAL' scheme of the Bank.
Syndicate Bank and BEML expect to book business worth Rs.100 crore by March 2020 under this window.
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