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Karnataka Bank partners with JCB India for equipment financing business

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Karnataka Bank partners with JCB India for equipment financing business

In order to expand the loan options available under the Bank’s MSME portfolio, Karnataka Bank and JCB India have inked a Memorandum of Understanding (MOU). In accordance with the terms of the agreement, JCB will designate Karnataka Bank as its finance partner, enabling individuals, contractors, companies, partnership firms, LLPs, etc. to obtain loans from the bank at competitive interest rates for the purpose of purchasing a variety of top-notch equipment from the JCB India Ltd. product line.

“In line with our focus on credit expansion, the Bank is at the forefront of funding MSMEs and we are definitely thrilled to have signed an MoU with JCB as they mirror similar ideals of quality, integrity, and sustainable development,” stated Shri Mahabaleshwara M.S., MD & CEO, Karnataka Bank. Our Bank offers customers a variety of financing options with competitive interest rates and prompt loan approval through digital channels for the acquisition of machinery and equipment. We at Karnataka Bank are firmly devoted to offering alluring credit options through such partnerships.

“With the Government’s focus on infrastructure development continuing to remain strong, there will be multiple chances to establish synergies between the teams from JCB India and Karnataka Bank,” said Deepak Shetty, CEO and MD of JCB India. But more crucially, it will provide our clients with more financing choices when they buy JCB machines in both urban and rural India.

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