JCB, Karnataka Bank tie-up for equipment financing biz
Equipment

JCB, Karnataka Bank tie-up for equipment financing biz

Karnataka Bank has signed a memorandum of understanding (MOU) with JCB India, a leading manufacturer of earthmoving and construction equipment in India. The tie-up arrangement with JCB India is expected to boost the lending avenues under the Bank’s MSME portfolio.

Under this MoU, JCB will be nominating Karnataka Bank as its finance partner where Individuals/contractors/company/partnership firms/LLP, etc., can avail loans from the bank at competitive interest rates for purchasing a wide range of world-class equipment from the product line of JCB India.

Speaking after signing the MoU, Mahabaleshwara MS, Managing Director and CEO, Karnataka Bank, said, “In line with our focus on credit growth, the Bank is at the forefront of financing MSMEs and we are indeed delighted to have signed an MoU with JCB as they mirror similar values of excellence, integrity and sustainable development. Our Bank is providing various finance schemes for the purchase of machinery/equipment to our customers with an attractive rate of interest and speedy sanction of loans through a digital platform. At Karnataka Bank, we are strongly committed to providing attractive finance schemes through collaborations of this kind.”

Present on the occasion were Balachandra YV, Chief Operating Officer; Gokuldas Pai, Chief Business Officer; Vinaya Bhat PJ, General Manager, Credit Marketing; Ravichandran S, General Manager, Credit Sanctions Department; other executives of Karnataka Bank, and senior officials of JCB India.

Speaking at the Occasion, Deepak Shetty, CEO and Managing Director of JCB India, said, "We are delighted to have signed this memorandum of understanding with Karnataka Bank for the financing of JCB machines for our customers. With the government's focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from JCB India and Karnataka Bank. But more importantly, it will give greater financing options to our customers while purchasing JCB machines both in urban and rural India.”

Karnataka Bank has signed a memorandum of understanding (MOU) with JCB India, a leading manufacturer of earthmoving and construction equipment in India. The tie-up arrangement with JCB India is expected to boost the lending avenues under the Bank’s MSME portfolio. Under this MoU, JCB will be nominating Karnataka Bank as its finance partner where Individuals/contractors/company/partnership firms/LLP, etc., can avail loans from the bank at competitive interest rates for purchasing a wide range of world-class equipment from the product line of JCB India. Speaking after signing the MoU, Mahabaleshwara MS, Managing Director and CEO, Karnataka Bank, said, “In line with our focus on credit growth, the Bank is at the forefront of financing MSMEs and we are indeed delighted to have signed an MoU with JCB as they mirror similar values of excellence, integrity and sustainable development. Our Bank is providing various finance schemes for the purchase of machinery/equipment to our customers with an attractive rate of interest and speedy sanction of loans through a digital platform. At Karnataka Bank, we are strongly committed to providing attractive finance schemes through collaborations of this kind.” Present on the occasion were Balachandra YV, Chief Operating Officer; Gokuldas Pai, Chief Business Officer; Vinaya Bhat PJ, General Manager, Credit Marketing; Ravichandran S, General Manager, Credit Sanctions Department; other executives of Karnataka Bank, and senior officials of JCB India. Speaking at the Occasion, Deepak Shetty, CEO and Managing Director of JCB India, said, We are delighted to have signed this memorandum of understanding with Karnataka Bank for the financing of JCB machines for our customers. With the government's focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from JCB India and Karnataka Bank. But more importantly, it will give greater financing options to our customers while purchasing JCB machines both in urban and rural India.”

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code