Srinagar, Aug 19: With a view to facilitating its clients, J&K Bank on Saturday entered into an agreement with LiuGong India Pvt. Ltd to be one of its preferred financiers for customers purchasing equipment from the company across India. The company is one of the country’s leading manufacturers of construction and mining equipment like excavators, bulldozers, wheel loaders, etc.
Deputy General Manager (Corporate Banking) Nishi Kant Sharma signed the Memorandum of Understanding (MoU) on behalf of the bank while the Vice-President (Sales & Marketing) Nischal Mehrotra put in his signatures representing LiuGong India Pvt. Ltd. during a signing ceremony held at the bank’s Corporate Headquarters in presence of company’s AGM (Customer Finance Support) Nitin Chandna and other officers of the bank.
Welcoming LiuGong India on board as partners DGM Nishi Kant Sharma said, “We continue to tie up with leading companies across the country to provide easy, affordable and attractive financing solutions that are tailored to meet the varied needs of customers in J&K, Ladakh and in rest of the country.”
“The agreement will be a win-win for all as it will add to the bank’s credit portfolio because of the large ticket size of the loan besides facilitating the customers with suitable financial solutions for the purchase of heavy-duty equipment used in the construction and mining industry from LiuGong India,” he added.
Expressing satisfaction over his company’s association with the bank, VP LuiGong India stated, “We at LuiGong India are pleased to partner with the premiere financial institution of the region with its great legacy of serving the people for the last 85 years besides being a trusted brand in the country’s banking landscape.”
“This agreement makes sound business sense for both the organisations as J&K Bank – now our preferred financier – already extends around 85% of total construction-equipment finance in Jammu & Kashmir. As per the tie-up, the customers will also receive a token concession on purchase from LiuGong India,” Nischal Mehrotra said.
