Mangaluru, Nov 25, 2022: Karnataka Bank signed a Memorandum of Understanding (“MoU”) with Hyundai Construction Equipment India Private Limited, construction and earthmoving equipment manufacturer. The partnership with Hyundai is expected to broaden the Bank’s MSME funding prospects.
This MoU will allow both Hyundai and Karnataka Bank to provide consumers with customised financial solutions. With this tie up, Bank will be designated as a financial partner and will be able to meet the needs of its customers by providing loans at competitive interest rates for purchase of a wide range of equipments from the product line of Hyundai Construction Equipments India Private Limited.
Speaking on the occasion, Shri Mahabaleshwara M.S, Managing Director & CEO, Karnataka Bank, said, “the Bank is at the forefront of funding MSMEs, and we are delighted to have partnered with Hyundai Construction Equipment India Pvt Ltd, who share similar principles of excellence, integrity and long-term development. Our Bank offers numerous financing solutions for the purchase of machineries/equipment to our customers, with competitive rate of interest and speedy sanction of loans through digital platform. Karnataka Bank is firmly devoted to providing attractive finance schemes through such arrangements.”
Present on the occasion were Shri. Gokuldas Pai, Chief Business Officer, General Managers, other executives of Karnataka Bank, Shri. Rajiv Chaturvedi, Vice President – Sales & Marketing, After – Service & Parts and other executives of Hyundai Construction Equipment India Private Limited.