The partnership was signed between Mr. Shenu Agarwal, CEO, Escorts Agri Machinery and Mr. Shiban Kaul, Head – Tractors & Farm Equipment Loans, IndusInd Bank. With this, Escorts aims to provide farmers with a hassle-free, transparent and a quick mechanism to purchase tractors.
Given its deep understanding of the rural markets and wider penetration, IndusInd Bank will bring forth better accessibility to innovative financial solutions, which in turn will help Escorts Limited attain its larger goal of fostering the dreams of farmers.
On this occasion, Mr. Shenu Agarwal, CEO, Escorts Agri Machinery said, “The rural industry is growing at a good pace and we are seeing our farmer shifting towards technologically advanced agricultural practices. Our role here is to provide him with the best of products and make the process of purchase as simple as possible.”
Also added Mr. S.V. Parthasarathy, Head – Consumer Finance, IndusInd Bank, “We are proud and excited to partner with Escorts Limited. With this partnership, farmers will have easy access to loans at attractive interest rates. Our association will bring transparency, seamlessness and convenience to support the farmers in their endeavour to nourish the nation.”
Escorts Ltd is currently trading at Rs1,422.25 up by Rs44 or 3.19% from its previous closing of Rs1,378.25 on the BSE.
IndusInd Bank Ltd is currently trading at Rs1,005 up by Rs9.05 or 0.91% from its previous closing of Rs995.95 on the BSE.