Mahindra & Mahindra’s Farm Equipment Sector signed a memorandum of understanding (MoU) with the Jammu & Kashmir Bank to finance Mahindra’s vary of tractors and farm equipment.








As one of many oldest nationalized banks in India, J&Ok Bank will present financing to potential prospects who can avail inexpensive and hassle-free financing amenities.





Mahindra & Mahindra’s Farm Equipment Sector signed a memorandum of understanding (MoU) with the Jammu & Kashmir Bank to finance Mahindra’s vary of tractors and farm equipment. 












As one of many oldest nationalized banks in India, with its company headquarters in Srinagar, J&Ok Bank will present financing to potential prospects who can avail inexpensive and hassle-free financing amenities on Mahindra branded tractors and farm equipment, through its branches in Srinagar, Jammu & Kashmir, Punjab, Himachal Pradesh, Leh, and Ladakh.

Commenting on the collaboration, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. stated, “Access to credit is a major hindrance in allowing farmers to employ mechanization solutions in their farmlands. With J&K Bank we at Mahindra aim to help farmers purchase the latest Mahindra farm equipment in the region. Through J&K Bank’s wide network, we also aim to offer improved access to affordable credit through innovative and attractive financing solutions that will help farmers acquire the latest farm equipment to boost their yields.”












Speaking on the event, President, J&Ok Bank, Syed Rais Maqbool stated, “In line with our customer-centric strategy, we have entered this tie-up with the country’s leading Tractor and Farm Equipment maker to enhance credit to the farm equipment sector, thereby facilitating ease of farming for people belonging to the agricultural sector. The agreement shall entitle our customers to appropriate discounts from M&M along with the bank’s competitive rate of interest.”

Syed Rais Maqbool additional added, “I hope the agreement will enable both the J&K Bank and M&M to leverage the inherent strengths of each other’s brand and network of outlets across India with a focus on J&K and Ladakh where we have 851 business units.”

Mahindra has been India’s No.1 tractor model for greater than three a long time. Having rolled out its first tractor in 1963, by a three way partnership with International Harvester Inc.












USA, Mahindra & Mahindra in March 2019 grew to become the primary Indian tractor model to promote 3 million tractors, inclusive of gross sales to world prospects. At current Mahindra has over 60 tractor and farm equipment dealerships and over 80 touchpoints throughout Srinagar, Jammu & Kashmir, Punjab, Himachal Pradesh, Leh, and Ladakh.











First printed on: 05 May 2022, 05:06 IST




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