Mumbai: Religare Finvest, the non-banking finance arm of Religare Enterprises on Thursday said that it has entered into an agreement with public sector Corporation Bank to offer services to small and medium enterprises.
The company has signed a memorandum of understanding (MoU) with Corporation Bank for identifying potential small and medium enterprises (SMEs), Corporation Bank said in a filing to the Bombay Stock Exchange (BSE).
“Our tie-up with Corporation Bank is in line with our strategy of a pan-India penetration and the opportunity to reach to as many budding entrepreneurs and enterprises as we can,” Religare Finvest chief executive officer Kavi Arora said.
The proposed partnership would look at extending financial assistance to small and medium enterprises.
Religare Finvest would work closely with Corporation Bank to identify and facilitate the creation of new business opportunities and provide support for customer satisfaction, the filing added.
Shares of Religare Enterprises on Thursday closed at Rs394.30 on the BSE, up 0.79% from its previous close.