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Sany India Partners with UBI

Published on November 27, 2022
Current Context: Sany Heavy Industries India Pvt Ltd signed a Memorandum of Understanding (MoU) with the Union Bank of India (UBI).
Sany India Partners with UBI
  • The agreement was signed by the Chief Operating Officer of Sany India, Dheeraj Panda, and the Chief General Manager (MSME) of UBI, CM Minocha.
  • The MoU between Sany India and the UBI was signed in order to make the process of equipment financing easy and efficient.
  • The partnership will allow the buyers of Sany India equipment to avail of a loan of up to 90% of its cost from the bank.
  • This will help the Union Bank’s portfolio under equipment finance to strengthen and get a wider reach.
  • UBI is a financial services company established in 1919 with its headquarters in Mumbai. The current Chairperson of the bank is A Manimekhalai.

Question:

Q.1 Sany India recently signed an MoU with which bank to make the process of equipment financing easy and efficient?
a. BOB
b. BOI
c. UBI 
d. PNB
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