The public sector lender, Syndicate Bank has tied up with Piaggio Vehicles for vehicle financing. Syndicate Bank has signed the memorandum of understanding (MoU).
The tie-up is done for the promotion of the bank's vehicle financing for commercial use. The signing of pact indicates Syndicate Bank's initiative to provide financial solutions to all its customers through its 2754 branches across the country for the purchase of commercial vehicles under its ‘SyndMSE Scheme'.
The memorandum of understanding was signed by Mr. Praveen Nagpal, Vice President (Retail Finance and Special Projects) for Piaggio Vehicles and Mr. H N Vishweshwar, General Manager, MSME and Retail Banking Department, Syndicate Bank.
The MoU was signed in presence of Mr. M G Sanghvi, Chairman and Managing Director and Mr. Ravi Chatterjee, Executive Director of Syndicate Bank, at Syndicate bank's corporate office in Bangalore.
Mr. Vishweshwar said, "As per the tie-up, the bank is a preferred financier of the vehicles manufactured by Piaggio Vehicles and our tie-up would be a win-win situation for both".
The bank will provide all its customers hassle-free financing facilities to its eligible customers.