Federal Bank has signed 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.
As per the arrangement, Federal Bank is the preferred finance partner of JCB, where JCB’s customers can avail loans from Federal Bank at competitive interest rates for purchasing a wide range of world-class equipment from the product line of JCB India Ltd.
Speaking at the occasion of signing this MoU, Deepak Shetty, CEO and Managing Director, 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 committed to giving the best solutions for equipment financing to its customers. The teams will be working together to give innovative financing solution to its customers.
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.”