Karnataka Bank Ltd has signed a memorandum of understanding (MoU) with Bajaj Auto Ltd, Pune, for financing the customers who intend to purchase three-wheeler passenger and cargo vehicles manufactured by the latter.
A bank release said here on Tuesday that the bank will provide finance on easy terms under its ‘KBL-MSE' scheme to the persons availing finance under this MoU. The loans will be covered under CGTMSE scheme of the Government and no collateral security would be insisted for such loans, it said.
Mr B. Ashok Hegde, General Manager of Karnataka Bank Ltd, and Mr Ashwin Jaikant, General Manager, Bajaj Auto Ltd, signed the MoU recently in this regard, the release added.