The Business Bytes
TBB BUREAU
NEW DELHI, MAR 14, 2024
SANY India, a prominent manufacturer of construction equipment, has solidified a Memorandum of Understanding (MoU) with J&K Bank to enhance financial solutions for its customers. The collaboration aims to foster growth opportunities in the region while streamlining access to SANY India’s advanced product line and financial services.
The MoU signing ceremony took place in the presence of Nishikant Sharma, Deputy General Manager of J&K Bank, and Sanjay Saxena, COO of SANY India, accompanied by senior officials from both organizations.
This collaborative effort signifies a shared commitment to leveraging the strengths of both entities to provide comprehensive financial solutions to customers, including competitive interest rates and flexible repayment plans tailored to support infrastructure projects.
Sanjay Saxena, COO of SANY India, expressed his enthusiasm about the partnership, stating, “We are delighted to partnerwith J&K Bank, a leading institution of economic well-being within its operational areas. This collaboration signifies our commitment to delivering exceptional financial services alongside our cutting-edge products, empowering customers across Jammu and Kashmir and Ladakh.”
Highlighting the significant reliance on J&K Bank for equipment financing, Saxena noted, “With 80% of our equipment sales in Jammu and Kashmir financed through J&K Bank, this partnership underscores the bank’s deep penetration and significance in the region. As J&K Bank becomes our preferred financier, customers can conveniently access financing solutions for our earthmoving and construction equipment without exploring alternative options.”
Nishikant Sharma, Deputy General Manager of J&K Bank, echoed Saxena’s sentiments, emphasizing the bank’s commitment to providing beneficial opportunities for its customers. He stated, “We continuously strive to provide beneficial opportunities for our customers. With construction activities thriving in J&K and Ladakh, the demand for earth-moving and construction equipment is on the rise. Through our Construction Equipment Finance scheme, prospective buyers of SANY equipment can easilyavail finance tailored to meet their financial requirements.”
Both parties emphasized the importance of strengthening their relationship to achieve mutually beneficial growth in the future, signaling a promising collaboration aimed at enhancing access to construction equipment financing in the region.
