Mahindra partners with J&K Bank for tractor and farm equipment loans
Mahindra & Mahindra (M&M) said on Thursday it had partnered with Jammu & Kashmir Bank to offer loans for tractors and agricultural machinery.
Farm Equipment Sector (FES), part of the Mahindra Group, has signed an MoU with the lender in this regard.
Under the partnership, J&K Bank will provide financing to prospective customers of Mahindra-branded tractors and agricultural machinery through its branches in Srinagar, Jammu & Kashmir, Punjab, Himachal Pradesh, Leh and Ladakh.
”Access to credit is a major barrier to enable farmers to employ mechanization solutions on their farmland. Together with J&K Bank, at Mahindra, we aim to help farmers purchase the latest Mahindra agricultural equipment in the region,” M&M President – Agricultural Equipment Sector – Hemant Sikka said in a statement.
Through J&K Bank’s extensive network, the company also aims to provide greater access to affordable credit through innovative and attractive financing solutions that will help farmers acquire the latest agricultural equipment to increase their yields, he said. added.
”In line with our customer-centric strategy, we have entered into this combination with the nation’s leading tractor and agricultural equipment manufacturer to enhance credit to the agricultural equipment industry, thereby facilitating ease of farming for people belonging to the agricultural sector,'” J&K Bank Chairman Syed Rais Maqbool said.
(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)