J&K Bank signs MoU with Atul Greentech to promote green transport

Srinagar, Jan 10: J&K Bank on Wednesday entered into a tie-up with M/S Atul Greentech Pvt. Ltd (Atul: E) by which the Bank has become one of the preferred financiers for the purchase of three-wheeler electric vehicles from the company.
As per the agreement M/S Atul Greentech Pvt. Ltd – a subsidiary of M/S Auto Pvt. Ltd – will provide an upfront discount to the borrowers availing loans from J&K Bank for purchasing a wide range of their e-vehicles.
Deputy General Manager (Corporate Banking/MSME) Nishikant Sharma signed the Memorandum of Understanding on the bank’s behalf while M/S Atul Greentech Pvt. Ltd was represented by their Deputy General Manager (Sales) Prerit Talesara in the signing ceremony held at the bank’s Corporate Headquarters which was attended by senior officials from both organizations.
Terming the association a step in the right direction with a focus on the future, Nishikant Sharma highlighted the need for providing loan facilities to the eco-friendly green initiatives taken across the country. He said, “Amid growing focus on pollution-free and clean environment, green initiatives across our country have assumed greater significance. So the role of banks has become more important in providing financial support to make all the eco-friendly initiatives successful.”
“Therefore, our association with Atul Greentech Pvt. Ltd will not only facilitate hassle-free loans to prospective borrowers but will also help them earn discounts from the company. It is a win-win for us as well as the prospective customers,” he added.
Deputy Manager Sales Prerit Talesara, while speaking on the occasion, stated that both J&K Bank and Atul Greentech Pvt. Ltd will add to its clientele, particularly in J&K.
“Demand for e-vehicles is ever increasing and to have J&K Bank – a premier financial institution in J&K and Ladakh – on board will go a long way in augmenting our sales,” he said.
Notably, Atul Auto Limited (AAL) has already had a tie-up with the Bank since 2018 for funding of ICE engine vehicles.