IndusInd Bank has partnered with multinational conglomerate company Escorts Limited to provide easy access to financial services in the form of affordable loans or farm finance solutions, on a consistent basis. The initiative will enable customers to invest in modern agricultural machinery to improve agricultural productivity and income.
With the reconciliation, Escorts aims to provide farmers with a transparent, hassle-free and quick mechanism to purchase suitable agricultural products such as tractors. Based in Faridabad Haryana, Escorts operates in industries such as construction machinery, agricultural machinery, railway equipment and material handling.
âThe rural industry is developing at a good pace and we are seeing our farmer moving towards technologically advanced farming practices. Our role here is to provide them with the best products and to make the purchasing process as easy as possible, âsaid Mr. Shenu Agarwal, CEO of Escorts Agri Machinery.
On Wednesday September 15, shares of Escorts Limited traded for the last time 1.25% at Rs 1,451.45 each on BSE. The escorts opened at Rs 1,462.90 on BSE today.
On the other hand, IndusInd Bank’s share price last traded 0.33% higher at Rs 1,039.90 each on BSE. IndusInd Bank opened at Rs 1,037 on BSE today.
The commercial banking company will bring accessibility to innovative and smart financial solutions in the given partnership, according to a recent statement shared by IndusInd Bank. The bank has 2,015 branches or points of sale and 2,872 ATMs across the country.
With this partnership, farmers will have easy access to loans at attractive interest rates. Our association will bring transparency, fluidity and convenience to support farmers in their efforts to feed the nation, ” said MSV Parthasarathy, head of consumer finance, IndusInd Bank.