Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.185)

185. 

Which bank has signed BEML Limited (Bharat Earth Movers Limited) for financing Earth Moving and Construction Equipment?

[A]. Bank of Baroda
[B]. UCO Bank
[C]. Syndicate Bank
[D]. Punjab National Bank

Answer: Option C

Explanation:

Syndicate Bank and BEML Limited (Bharat Earth Movers Limited) have signed an agreement for financing Earth Moving and Construction Equipment which is manufactured by BEML. Also, it will facilitate the availability of loans and address the growing demand for higher capacity equipment in the Mining Industry.Under this agreement, the customers will be provided loans in the range of Rs 20 Lakh to Rs 300 Lakh and preferential pricing by Syndicate Bank. Also, Syndicate Bank and BEML expect to book business worth Rs.100 crore by March 2020.

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