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
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement