Chennai: United Bank of India and Srei Equipment Finance have entered into an agreement for financing the MSME and agriculture sectors.

Under the pact, UBI would leverage its low-cost loans with Srei to enable purchase of equipment and vehicles in a seamless manner, a statement by the State-run lender said.

MD and CEO, United Bank, Ashok Kumar Pradhan hailed the agreement as a “saviour” for the MSME units ‘starved’ of low-cost funds to compete globally and upscale themselves.