Chennai: Srei Equipment Finance Limited (SEFL) and Bank of Baroda have announced that they will offer joint loans for infrastructure equipment under a co-lending arrangement. iQuippo, a Kanoria Foundation initiative, will facilitate sourcing of loans under this program.
The partnership, stated a release, will allow SEFL and Bank of Baroda to collaborate, co-operate and widen their respective markets and customer base. The partners, through this strategic alliance, will be able to leverage each other’s customers and cross-sell their products. The offerings would include both business to business (B2B) and business to customer (B2C) propositions.
MD, SEFL, Devendra Kumar Vyas, said, “The combined strengths Srei Equipment Finance and Bank of Baroda will prove to be extremely beneficial for our customers together. Apart from access to affordable financing, they will be able to explore a wide range of innovative banking products. This partnership will also complement the expansion plans of Bank of Baroda with access to new customer segments as well as geographies.”