Mahindra & Mahindra’s Farm Equipment sector has tied up with the State Bank of India (SBI) to provide loan options for its tractors and farm machinery products.
A communication from the company said that customers are required to submit their KYC documents, proof of income and property documents to initiate the process.
Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra, noted that financing is crucial to ensuring that farmers can choose the right farm equipment for smooth operations.
Through this partnership with SBI, the company aims to enable farmers to avail hassle-free, affordable, and flexible credit facilities, 'as we aim to transform farming & enrich lives through mechanisation on India’s farmlands,' he added.
Shantanu Pendsey, CGM – Agri Business Unit and Govt. Sponsored Schemes, SBI, noted that technology plays a major role in increasing farmers' productivity and incomes. SBI’s partnership with Mahindra will ensure the sale of farm equipment through one of the widest networks of touchpoints across the country, bringing ease and convenience into the lives of farmers through a range of our tailor-made finance schemes, he added.
Mahindra has seven manufacturing centres in India, with over 1,100 tractor and farm machinery dealerships across the country. It has a global manufacturing and assembly presence worldwide in North America, Brazil, Mexico, Finland, Turkey and Japan through subsidiaries.
Also Read
Mahindra Finance Bats For Electric 3Ws, Bullish On Rural India