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Canara Bank, Mico-Bosch sign MoU
BANGALORE:
Canara Bank and Mico-Bosch on Thursday signed a memorandum of understanding for financing power tools. Under the scheme, all branches of Canara Bank will extend loans to carpenters and wood workers, electricians, persons engaged in sanitary servicing and repairs, auto technicians etc for purchase of power tools and working capital up to Rs. 1 lakh, says a release. The MoU was signed by R. Prabha, General Manager, Canara Bank, and Ravi Krishnamurthi, Business Head, Automotive Aftermarket Division, and Navin Paul, Business Head, Mico-Bosch Power Tools Division.
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