Syndicate Bank has signed a memorandum of understanding (MoU) with Piaggio Vehicles Pvt Ltd.
The MoU is for forging a partnership for the promotion of the bank’s financing for purchase of vehicles for commercial use.
The tie-up reflects Syndicate Bank’s initiatives to provide one-stop financial solutions to its customers through its 2,754 branches all over the country for the purchase of vehicles under its ‘SyndMSE Scheme’.
The MoU was signed by H.N. Vishweshwar, General Manager, MSME and Retail Banking Department on behalf of Syndicate Bank, and Praveen Nagpal, Vice-President (Retail Finance and Special Projects) for Piaggio Vehicles.
The MoU was signed in the presence of M.G. Sanghvi, Chairman and Managing Director, and Ravi Chatterjee, Executive Director of Syndicate Bank, at the bank’s corporate office in Bangalore.
“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,’’ Vishweshwar said.
The bank on its part will offer hassle-free financing facilities to its eligible customers.