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ECL Finance and Central bank of India ink pact to co-lend to MSMEs

ECL Finance and Central bank of India ink pact to co-lend to MSMEs_50.1

ECL Finance Ltd, a subsidiary of Edelweiss Financial Services, and Central Bank of India have signed an agreement for priority sector lending to Micro, Small and Medium Enterprise (MSME’s) customers.

The partnership aims to facilitate speedy disbursal of credit across a bouquet of products, including machinery and business loans. Through this partnership, MSMEs will be offered a blended lower rate of interest, translating into a lower cost of funds, helping them deploy capital more effectively in their business.

Static/Current Takeaways Important For RRB Main 2019:

  • Chairman of Central Bank of India: Rajeev Rishi.
  • MD & CEO of Central Bank of India: Pallav Mohapatra.

Source: The Hindu

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