Corpn Bank, HMT pact
Mangalore: Corporation Bank on Wednesday signed a memorandum of understanding (MoU) with HMT Ltd to collaborate with it for financing tractors to farmers. A. Mohan Rao, general manager of the bank, and S.K. Welling, executive director of HMT Ltd, signed the agreement at the bank's corporate office in Mangalore. According to a press release here, the Corp Kisan Farm Mechanisation Scheme under which tractors would be financed covers the entire range of farm machinery used by farmers. Apart from the low interest rates, the bank has relaxed margin and security norms to facilitate easy and affordable credit to farmers, the release added.
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Corpn Bank signs MoU with Hero Cycles
New Delhi: Corporation Bank has signed a memorandum of understanding with Hero Cycles Ltd to finance cycles. Apart from low interest rates, the bank has also relaxed the margin and security norms to facilitate easy and affordable credit. For women beneficiaries, the bank would offer special concessional rate of interest.
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Prudential Coop. depositors' plea
Hyderabad: The depositors' association of the crisis-ridden Prudential Co-operative Bank have demanded the payment of due interest on fixed deposits, operation of savings bank and current accounts to instil confidence among account holders and the general public. In a memorandum to the Chairman of the bank, the association also wanted the process of recovery of outstanding loan amounts from the big borrowers to be speeded up and the RBI should pay interest on the funds of the co-operative bank lying in deposit with them during the period of non-functioning of the bank with a view to reducing the cost burden of the management expenses of the bank. If demands are not met by November 30, the association said it would resort to agitational programme.
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