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Monday, December 11, 2023

Federal Bank ties up with JCB India to finance heavy equipment buyers


on Friday said it has tied up with to the prospective buyers of heavy construction equipment and boost its loan portfolio.

The private sector lender said it has inked a memorandum of understanding (MOU) with JCB India, a leading manufacturer of earthmoving and construction equipment.

This arrangement will boost the financing options for JCB’s customers in India, said in a release.

Under the arrangement, is the preferred partner of the construction equipment manufacturer, where JCB’s customers can avail loans from the lender at competitive interest rates.

With the government’s focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from and Federal Bank, Deepak Shetty, CEO and Managing Director of JCB India, said.

“Importantly, it will give greater financing options to our customers while purchasing JCB machines both in urban and rural India,” he added.

Shyam Srinivasan, Managing Director and CEO of Federal Bank, said the lender has officially become the financing partner for .

“This partnership would prove to be hugely beneficial to a segment of customers who are looking for easy options to take their business forward. We are confident this association will help remove barriers between Bharat and Atmanirbhar Bharat,” he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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