Current Affairs - Banking - Discussion

Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, has collaborated with Syndicate Bank to provide equipment financing under co-lending arrangement for various equipment categories like construction, mining, material handling, commercial vehicles, medical and farm equipment. The arrangement requires Syndicate Bank to utilise its low-cost funds and co-lend equipment loans with Srei at a rate which has been mutually agreed on. It has been done under the aegis of Reserve Bank of India (RBI) circular dated September 21, 2018 that allows banks to collaborate with non-banking finance companies (NBFCs) to co-originate loans for the creation of assets for priority sector. Loans under this programme will be sourced by iQuippo a Kanoria Foundation initiative- India's first digital marketplace for construction equipment, machinery and services.