Manappuram Finance India Ltd (MAFIL) inks a Memorandum of Understanding (MoU) with JCB India Ltd to finance the latter’s range of equipment and engineering goods. The agreement was signed the other day by Kamal Parmar, Head of Vehicle and Equipment Finance at Manappuram Finance, and a JCB India official.
According to the agreement, funding choices will be available throughout the country. The agreement will go a long way toward assisting both parties in increasing their business volumes.
“We are pleased to announce the signing of an MoU with JCB India for financing a range of their construction equipment. This MoU will lead to higher volume growth for both partners. It will help both companies to leverage each other’s strengths in the respective markets”, said V.P. Nandakumar, MD and CEO of Manappuram Finance.
“This agreement with JCB India opens up our network of branches to expand their dealership footprint across India and is an integral part of our efforts to diversify our portfolio offering by making a foray into new verticals to spur growth. It is indeed a major step to boost our business of construction equipment finance,” he added.
