J&K Bank signs MoU with Escorts Kubota to boost farm equipment financing

Excelsior Correspondent

SRINAGAR, Apr 8: The J&K Bank has signed an agreement with Escorts Kubota Ltd (EKL) to make farm equipment more accessible and affordable for farmers.
As per a statement, the move is aimed at promoting agricultural mechanization and offering easy finance options.
It said the Memorandum of Understanding (MoU) was signed at the J&K Bank’s corporate office, with Deputy General Manager (Agri/MSME) Rakesh Magotra representing the Bank and General Manager Kamlesh Yadav signing on behalf of Escorts Kubota Ltd, with all the J&K-based EKL dealers present on the occasion.
The statement further said that under the tie-up, J&K Bank will be a preferred (non-exclusive) finance partner for customers buying tractors and other farm machinery from EKL.
A special offer includes an upfront discount of Rs 15,000 on all Escorts Kubota tractor models for customers availing finance through J&K Bank, it said.
J&K Bank’s General Manager (Credit), Ashutosh Sareen, said the collaboration is aimed at supporting farmers with easy loan solutions and is in line with the Government’s push for rural development and higher farmer incomes.
EKL’s Whole-time Director and CFO, Bharat Madan, welcomed the partnership, saying it would help provide affordable credit to farmers and support rural growth.
Chief Officer (Tractor Business Division – EKL), Neeraj Mehra, noted that the tie-up will not only ease financing but also help farmers adopt modern tools to increase productivity.
He appreciated J&K Bank’s wide reach, which will ensure credit access even in remote areas.
Rakesh Magotra added that the bank remains committed to offering its customers the benefits of partnerships with trusted companies, ensuring smooth and discounted credit support for farmers.
“The partnership aimed to modernize farming practices and boost productivity across Jammu and Kashmir and other parts of the country,” he said.

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