PNB signed MOU with Same Deutz Fahr India P. Limited

Sarkaritel
By Sarkaritel June 27, 2014 10:31

PNB signed MOU with Same Deutz Fahr India P. Limited


New Delhi, June 27 : Punjab National Bank, a pioneer in Agriculture Credit and Same Deutz Fahr India P. Limited one of the leading manufacturer of Tractors/Agricultural Implements, signed a MOU, for augmenting Tractors/Agricultural Implements financing to the farmers across the Country.

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Dr. Rakesh Gupta, General Manager, Priority Sector & Lead Bank Division signed the MOU on behalf of the Bank while SDF India, was represented by Shri Bhanu Sharma, Managing Director and CEO.

Speaking on the occasion, Dr. Rakesh Gupta highlighted the importance of farm mechanisation in the era of commercial agriculture.

Dr. Gupta informed that apart from financing the new tractors, PNB is also providing finance for the purchase of the old tractors as well as for repair & renovation of tractors.

Dr. Gupta further added that, PNB has launched “PNB Dealer Suvidha Scheme” for providing credit facilities to the tractor dealers for both sale and service of tractors and for providing custom hiring services (sowing, harvesting, threshing, etc) to the farmers who cannot make one time investment on high cost agricultural implements.

Shri Sharma, Managing Director and CEO, SDF India added that SDF India will offer an incentive of Rs. 8000/- to the farmers financed by PNB. In addition to the above incentive, SDF India will offer first year subscription of Rs.800/- on behalf of the tractor borrower who opt to become member under PNB Farmers’ Welfare Fund Scheme.

Dr. Gupta added that Farmer Welfare Trust also gives scholarship to meritorious children of tractor borrowers who are members of PNB FARMERS’ WELFARE FUND SCHEME as under:

 

Category Eligibility Criteria Amount of incentive
Matriculation 60% & above marks Rs 5000
Inter/10+2 60% & above marks Rs 8000
Graduation 60% & above marks Rs 10000

 

 

 

 

Girl students however shall get an additional incentive of Rs.1000/- under each of the above category.

Shri Sharma lauded the role of Bank efforts in providing credit facilities to progressive & needy farmers at concessional rates. Further, he assured to bring the farmers to Bank fold in order to improve economic conditions of farmers through Bank finance.

Sarkaritel
By Sarkaritel June 27, 2014 10:31