Syndicate Bank and BEML have signed a MoU for financing Earth Moving & Construction Equipment manufactured by BEML.

Under the MOU, BEML will nominate Syndicate Bank as a preferred financer forfinancing its customers. The customers under the tie-up arrangement will beprovided loans in the range of Rs. 20 lakh to Rs. 3 crore and preferentialpricing by Syndicate Bank. Financing Equipment of BEML will be covered under'SPECIAL' scheme of the Bank.

Syndicate Bank and BEML expect to book business worth Rs.100 crore by March2020 under this window.

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BEML announced that the Board of Directors of the Company at its meeting held on 21 March 2019, inter alia, have recommended the interim dividend of Rs 4.5 per equity Share (i.e. 45%) , subject to the approval of the shareholders.

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The Board of BEML at its meeting held on 21 March 2019 has approved 'Request for Proposal' (RFPs) for appointment of Transaction Advisor, Legal Advisor & Asset Valuer for disinvestment of BEML shareholding of 96.56% in Vignyan Industries, a Subsidiary of BEML, as per the recommendation of Government of India.

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BEML has fixed 29 March 2019 as record date for payment of interim dividend of Rs 4.50 per share for FY 2018-19.

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