Karnataka Bank, headquartered in the city, has signed a Memorandum of Understanding (MoU) with JCB India Limited, a manufacturer of earthmoving and construction equipment in India. Under the agreement, JCB will appoint Karnataka Bank as its “Preferred Financier” in which individuals, entrepreneurs, businesses and partnership companies can avail loans from the bank at competitive interest rates for the purchase of a wide range of equipment from JCB India Limited’s product range. , said a press release from the bank here. The combination deal with JCB India is expected to boost lending opportunities under the bank‘s MSME portfolio.
Speaking after the MoU was signed on Friday, the bank’s CEO and Managing Director, MS Mahabaleshwara, said the bank was at the forefront of financing micro, small and medium-sized enterprises (MSMEs) in accordance to its credit growth objective.
He said the bank was delighted to have signed the MoU with JCB as they reflect similar values of excellence, integrity and sustainability. The bank offers various financing programs for the purchase of machinery and equipment to customers with an attractive interest rate and quick sanctioning of loans through a digital platform. Karnataka Bank is strongly committed to providing attractive financing schemes through such collaborations, Mahabaleshwara said.
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