18th June 2011
Srinagar
JK Bank inks tie-up with country's leading Agri-equipment Company
With a view to help mechanization of farm sector and give boost to agricultural productivity in the state, J&K Bank today signed a Memorandum of Understanding (MoU) with Premier Power Equipments & Products Pvt. Ltd. (PPE&P) a leading agricultural equipment manufacturer company of India, here at Bank's Corporate Headquarters.
R K Shah, Vice-President for Strategy & Business Development (S&BD) signed the agreement on behalf of the J&K Bank while as A. Rajkumar, CEO & Director put in his signatures on behalf of Premier Power Equipments & Products Pvt. Ltd in presence of Tafazal Hussain, President S&BD.
In his presidential address Tafazal Hussain said that the purpose of such tie-ups was to see J&K evolve as a highly developed and economically self-reliant state.
He said, "J&K Bank, committed to state's development, wants to be part of every success story being scripted on the financial landscape of the state by employing its resources and utilising its massive branch network".
Stating that the agreement would work like a catalyst in using agricultural equipments, Hussain informed that the Bank would be extending the finance to agriculture equipment buyers under "JK Bank Kisan Dost Finance", a highly customized and hassle-free product.
H e further stated that awareness camps about salient features of the product shall be held at district headquarters in J&K soon, as it is believed, on the basis of technical certification that the equipments being introduced are highly useful and viable in the state.
Speaking on the occasion R. K Shah said, "We are very glad to be associated with Premier Power Equipments & Products Pvt.Ltd and hope this collaboration helps aspiring farmers across the state."
The nearest branch of the bank will promptly process the application and disburse the loan within 72 working hours, he added.
Also present on the occasion A. Rajkumar said "We approached J&K Bank keeping in mind its vast network and wide reach. Agricultural equipments like Garuda Super Weeder, Garuda Master Weeder and Garuda Mini Weeder will revolutionise the farming."
"I am confident that this collaboration with J&K Bank will enhance our equipment sale in the State," he added. According to the MoU, dealers of Premier Power Equipments & Products Pvt Ltd. would apprise prospective customers about the advantages and soft terms of finance available through the J&K Bank and shall help them in applying for it. The tie-up will cover the whole J&K State.
The products of the company are extensively used in the areas of agriculture, horticulture and floriculture for tilling, ploughing, bund forming, weeding and harvesting. The dealers of the company with active support of the Bank will conduct workshops especially in rural areas for mass awareness about the benefits of these products and the easy finance available.
R K Shah, Vice-President for Strategy & Business Development (S&BD) signed the agreement on behalf of the J&K Bank while as A. Rajkumar, CEO & Director put in his signatures on behalf of Premier Power Equipments & Products Pvt. Ltd in presence of Tafazal Hussain, President S&BD.
In his presidential address Tafazal Hussain said that the purpose of such tie-ups was to see J&K evolve as a highly developed and economically self-reliant state.
He said, "J&K Bank, committed to state's development, wants to be part of every success story being scripted on the financial landscape of the state by employing its resources and utilising its massive branch network".
Stating that the agreement would work like a catalyst in using agricultural equipments, Hussain informed that the Bank would be extending the finance to agriculture equipment buyers under "JK Bank Kisan Dost Finance", a highly customized and hassle-free product.
H e further stated that awareness camps about salient features of the product shall be held at district headquarters in J&K soon, as it is believed, on the basis of technical certification that the equipments being introduced are highly useful and viable in the state.
Speaking on the occasion R. K Shah said, "We are very glad to be associated with Premier Power Equipments & Products Pvt.Ltd and hope this collaboration helps aspiring farmers across the state."
The nearest branch of the bank will promptly process the application and disburse the loan within 72 working hours, he added.
Also present on the occasion A. Rajkumar said "We approached J&K Bank keeping in mind its vast network and wide reach. Agricultural equipments like Garuda Super Weeder, Garuda Master Weeder and Garuda Mini Weeder will revolutionise the farming."
"I am confident that this collaboration with J&K Bank will enhance our equipment sale in the State," he added. According to the MoU, dealers of Premier Power Equipments & Products Pvt Ltd. would apprise prospective customers about the advantages and soft terms of finance available through the J&K Bank and shall help them in applying for it. The tie-up will cover the whole J&K State.
The products of the company are extensively used in the areas of agriculture, horticulture and floriculture for tilling, ploughing, bund forming, weeding and harvesting. The dealers of the company with active support of the Bank will conduct workshops especially in rural areas for mass awareness about the benefits of these products and the easy finance available.