Mechanization and Technology

Indian bank ties up with TAFE and TMTL for tractor financing

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20 July 2023, Chennai: In a move to enhance its customer experience, Indian Bank partnered with TAFE and TMTL, leading OEMs of Tractors in India, for financing tractors, in the presence of Imran Amin Siddiqui, Executive Director of Indian Bank. The Tie up would allow Farmers and Other Individuals to avail Tractor loans at affordable interest rates, with the benefit of hassle-free loan processing.

The interested buyer can avail Tractor financing benefits from 5700+ branches of Indian Bank spread across the country.

Speaking on the occasion V. Chandrasekaran, General Manager, Rural Banking /SLBC/RRB, Indian Bank said, “The association with TAFE and TMTL will allow us to provide quick and hassle-free financing to a large number of our customers across the country. Indian Bank has a strong presence across the country. We are expecting a sanction of Rs.500 cr in this FY 2023-24”.

Elaborating on the tie-up, Parameswara Reddy Devi, Chief Financial Officer, TAFE, and TMTL said, “The collaboration with Indian Bank helps to provide all TAFE and TMTL customers with simpler financing options, as well as a best-in-class ownership experience and assistance”.

Mani Subramanian, GM, Rural Banking and Narendra Kumar Sharma, GM, MSME, and Shri Saurabh Dalmia, Vertical Head(CMS) were present during the occasion.

Also Read: LI-COR onboards new distributor DTPLENVIRO Techsolutions to expand its presence in India

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