Karnataka Bank has entered in to a Memorandum of Understanding (MoU) with Mahindra and Mahindra or financing tractors/ power tillers/ vehicles and other farm equipments.
According to a press release, the finance will be extended under the Bank’s “KBL - Mahindra Sarathi Scheme.” The customers availing finance under this MoU will get a benefit of a sum equal to first year insurance premium as applicable for comprehensive insurance coverage on tractor. The tractor financed under the said scheme will carry a warranty for a period of two years from the date of sale. General Manager of the Bank G K Bhat and Deputy General Manager (Sales) of Mahindra & Mahindra Gangadhar Tambe, signed the MoU. Sudeep Itty and Shanth Kumar from Mahindra and Mahindra, Deputy General Managers of the Bank P Jairama Hande and B Vittal Rao were among the present.
