PNB Augments Tractors/Agriculture Implements financing to the farmers…

PNB Augments Tractors/Agriculture Implements financing to the farmers...

PNB Augments Tractors/Agriculture Implements financing to the farmers across the Country

Punjab National Bank signed MOU with Preet Tractors Pvt. Ltd (PTPL)

Punjab National Bank, a pioneer in Agriculture Credit  signed a MOU with Preet Tractors Pvt. Ltd, one of the leading manufacturer and exporter  of Tractors/Agriculture Implements, for augmenting Tractors/Agriculture Implements financing to the farmers across the Country.

Dr. (Shri) Rakesh Gupta, General Manager, Priority Sector & Lead Bank Division signed the MOU on behalf of the Bank while PTPL,was represented by Shri Vimal Magoon, President-Sales & Marketing.

Speaking on the occasion, Dr. Rakesh Gupta highlighted the importance of farm mechanisation in the era of commercial agriculture. He said that PNB is offering tractor loan to the farmers at concessional terms to strengthen their efforts to increase agricultural production and further bringing prosperity in the rural areas.

Dr. Gupta also informed that apart from financing the new tractors, PNB is also providing finance for the purchase of the old tractors as well as for repair & renovation of tractors.

Dr. Gupta further added that, PNB has launched “PNB Dealer Suvidha Scheme” for providing credit facilities to the tractor dealers for both sale and service of tractors and for providing custom hiring services (sowing, harvesting, threshing, etc) to the farmers who cannot make one time investment on expensive agriculture implements.

Shri Vimal Magoon, President-Sales & Marketing, PTPL, added that PTPL will offer an incentive of Rs. 8000/- to the farmers financed by PNB. In addition to the above incentive, PTPL will offer first year subscription of Rs.800/- on behalf of the tractor borrower who opt to become member under PNB Farmers’ Welfare Fund Scheme.

Shri Magoon assured bank for providing supports through PTPL in mobilising business through branches.

Dr. Rakesh Gupta informed that PNB is going to celebrate “Farm Mechanization Week” from 22th-28th February, 2014 with a special focus on financing Tractors/Agriculture Implements

Author: sarkarimirror