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Corporation Bank signs MoU with Texmo
MANGALORE: Corporation Bank has, on Friday, signed a memorandum of understanding with Texmo Industries, a leading manufacturer of agricultural pumpsets here. Under the agreement, the bank would collaborate with Texmo for financing agricultural pumpsets to farmers. This also makes the bank the `favoured bank' of Texmo Industries for financing their agricultural pumpsets. A release from B. R. Bhat, Deputy General Manager of the bank here, said it had formulated a number of innovative loan schemes for farmers at highly competitive interest rates. Apart from low interest rates, it has also relaxed margin and security norms to facilitate easy and affordable credit to the farmers. R. K. Nair, General Manager of the bank, and Damayanthi Ramachandran, managing partner of Texmo, signed the MoU. — Our Special Correspondent
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