Karnataka Bank Ltd., one of the leading Private Sector Banks of India, has joined hands with M/s. Reliance Capital Limited, Mumbai, a constituent of Reliance Group and one of India's leading & amongst the most valuable financial services companies in the private sector, by entering into a Memorandum of Understanding(MOU) for financing the Micro, Small and Medium Enterprises (MSMEs) through co-financing arrangement. The Bank will provide fund based/Non Fund Based finance to the eligible MSMEs referred by Reliance Capital Ltd., as per the norms of the Bank.
In this regard, a Memorandum Of Understanding (MOU) has been signed by Sri.N Upendra Prabhu, General Manager(Cre 'it-Retail & Mid-Corporate Finance Division) of Karnataka Bank Ltd and Sri.K V Srinivasan, Chief Executive Officer-Reliance Commercial Finance, Reliance Capital Ltd., at Bank's Head Office in Mangalore on July 4th 2013 in the presence of Sri P.Jayarama Bhat, Managing Director & Chief Executive Officer of the Bank.
The Bank has over 550 branches and the Reliance Capital Ltd has over 230 million customers, across India. Bank's Deputy General Managers Sri V.N.Manohar(HO-RMFD) & Sri B Nagaraja Rao(RO-Mumbai), Asst. General Manager Sri.Mahalingeshwara K, Senior Manager Sri. Udayashankar and the Chief Treasury Officer of Reliance Capital Ltd., Sri Suresh Babu K were present on this occasion.
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