Current Affairs - Banking - Discussion

The United Bank of India (UBI) and Srei Equipment Finance have entered into an agreement for financing the Micro, Small and Medium enterprises (MSME) and agriculture sector. Under the agreement UBI plans to leverage the co-lending model to offer credit at blended interest rate of 11-12 per cent. The Bank will leverage low its low cost loans with Srei Equipment finance to enable purchase of equipment and vehicle in the seamless manner. The Bank is eying around 200 crore business over the period of three months by this agreement.