Indian Bank, Muthoot Microfin sign MoU

Public sector Indian Bank on Fridaysaid it has signed a memorandum of understanding with MuthootMicrofinance to serve micro, small and medium enterprises

"Under the memorandum of understanding, the bank and thenon-banking finance company will jointly lend to the MSMEborrowers," the bank said in a statement

Indian Bank general manager-MSME Sudhakar Rao exchangeddocuments with Muthoot Microfin deputy CFO Praveen T in thepresence of the bank's managing director and CEO PadmajaChunduru recently.