Today, Federal Bank signed an MOU with JCB India, a leading manufacturer of earthmoving and construction equipment. This agreement expands JCB’s lending alternatives for consumers in India.
According to the agreement, Federal Bank is JCB’s preferred financial partner, and JCB’s clients can obtain loans from Federal Bank at affordable interest rates for purchasing a wide selection of world-class equipment from JCB India Ltd’s product line.
Speaking at the occasion of signing this MoU, Deepak Shetty, CEO and Managing Director of JCB India said: “We are delighted to have signed this memorandum of understanding with Federal Bank for the financing of JCB machines for our customers. With the Government’s focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from JCB India and Federal Bank. Importantly, it will give greater financing options to our customers while purchasing JCB machines both in urban and rural India.”
JCB is dedicated to provide its customers with the best equipment financing options. The teams will collaborate to provide customers with novel financing solutions.
During the occasion, Shyam Srinivasan, Managing Director and CEO, Federal Bank said, “Today, we officially become the financing partner for JCB India. This partnership would prove to be hugely beneficial to a segment of customers who are looking for easy finance options to take their business forward. We are confident this association will help remove barriers between Bharat and Atmanirbhar Bharat.”