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Bank sings MoU with Greaves Cotton
MANGALORE: Corporation Bank on Thursday signed a memorandum of understanding with Greaves Cotton, manufacturer of farm machineries. Under the agreement, the bank would collaborate with the company for financing farm machineries to farmers. This makes the bank `favoured bank' of the company for financing various farm machineries manufactured by them.
A release from B. R. Bhat, Deputy General Manager, Corporate Office, stated that the bank had formulated a number of innovative loan schemes for farmers at highly competitive interest rates. Apart from attractive interest rates, the bank has also relaxed the margin and security norms to facilitate easy and affordable credit to the farmers. The agreement was signed at the bank's Corporate Office, Mangalore, by M. R. Nayak, General Manager of the bank, and D. C. Mathur, Deputy General Manager, (Business Group-Southern), Agro Equipment Division, Head office, Chennai.
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