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J&K Bank signs MoU with CNH Industrial to boost agricultural financing
- Srinagar
- 26 Nov 2024
J&K Bank today entered into an agreement with CNH Industrial Pvt. Ltd., one of the world’s leading agricultural machinery manufacturers with a presence in over 180 countries. The Memorandum of Understanding (MoU) positions the Bank as one of the preferred financiers for CNH Industrial’s New Holland Tractors across the country, reinforcing the Bank’s commitment towards the agricultural community.
The MoU was signed during a formal ceremony presided over by the Bank’s General Manager (MSME/Agri/CB) Ashutosh Sareen. Deputy General Manager (MSME/Agri/GSS) Rakesh Magotra signed the document On behalf of the Bank, while Regional Manager Dharamvir Singh Guron inked the agreement representing CNH Industrial Pvt. Ltd. Others present at the function included DGM Nishikant Sharma, AGMs Suhail Lone and Nuzhat Parveen, Srinagar-based Dealer of New Holland Tractors Showkat Qayoom Khan and officials from both the companies.
Speaking on the occasion, General Manager Ashutosh Sareen said, “This partnership underscores our firm focus on empowering the agricultural sector. By combining advanced technological solutions of New Holland Tractors with our seamless and customer-centric financing options, we aim to contribute actively towards agricultural growth and productivity across the country.”
“While the MoU demonstrates our commitment as a reliable partner for farmers, it is heartening to see that the MoU necessitates dealers to provide free insurance cover for the first year to fresh buyers of New Holland Tractors”, he added.
In his remarks, DGM Rakesh Magotra said, “We have always prioritized financing solutions for the agricultural sector, recognizing its vital role in the economy. The tie up is aimed for greater good of the farming community and through it, we are offering our customers access to state-of-the-art tractors that are compatible with Indian soils and climatic conditions. The idea is to simplify the journey for farmers by empowering them financially to adopt modern farming practices and achieve greater yields.”
Expressing enthusiasm about the partnership, CNH Industrial’s Regional Manager Dharamvir Singh Guron said, “We are excited to join hands with a market leader like J&K Bank, known for its robust presence and strong performance in J&K and Ladakh. This collaboration will enhance access to our technologically advanced tractors and post-harvest solutions, enabling farmers to achieve greater productivity. We are confident that J&K Bank’s hassle-free financing will accelerate tractor sales and uplift the agricultural community nationwide.”
