HD Construction Equipment India and J&K Bank signed a Memorandum of Understanding on May 20 in Srinagar to expand financing solutions for Hyundai excavators and wheel loaders. The signing ceremony was attended by senior representatives from HD Construction Equipment India, including AVP Joydeep Bakshi and Head Sales — NCW Sharwan Agnihotri, and by DGM Arjun Singh Rathore from J&K Bank, along with Oves Ur Rehman, Dealer Principal of Fuel Automobiles, the authorised Hyundai dealer for Jammu & Kashmir.

Under the MoU, the two organisations will collaborate to improve access to tailored financing for customers purchasing Hyundai excavators and wheel loaders in the region. J&K Bank will provide financing support to eligible customers through simplified processes and bespoke financial packages, while HD Construction Equipment India will lead market outreach and customer engagement to boost equipment adoption.

The partnership is expected to support contractors, infrastructure developers, mining operators, and construction firms by offering customised finance for machines used in road construction, quarrying, warehousing, mining, and large-scale infrastructure projects across the Union Territory. While the MoU has PAN-India applicability, it focuses primarily on catalysing growth and infrastructure development in Jammu & Kashmir, aiming to accelerate modern equipment adoption and enhance project execution efficiency.