Daijiworld Media Network – Mangalore (SM)

Mangalore, Dec 12: Karnataka Bank Ltd, a leading private sector bank, has entered into a Memorandum of Understanding (MoU) with M/s SAS Motors Ltd for financing purchase of tractors / power tillers and other farm equipments, a press release issued by the Bank informed. 

M/s SAS Motors Ltd is one of the tractor manufacturing companies and is performing well in the industry.  ANGAD is a low cost tractor well suited for farm operations, the release stated.

Finance will be extended under Bank’s “KBL – ANGAD Sarathi Scheme”. The customers availing finance under this MoU will get an additional benefit of Rs 5000/- per tractor and a sum equal to first year insurance premium as applicable for comprehensive insurance coverage on tractor. The tractor financed under the said scheme will carry a warranty for a period of one year from the date of sale.

GK Bhat, general manager of the Bank and Ankur Goyal, commercial manager, M/s SAS Motors Ltd signed the MoU.

Satish H A, sales engineer for Karnataka Operation from M/s SAS Motors Ltd, P Jairama Hande and B Vithal Rao, deputy general managers and Ramesh Vaidya, agriculture officer were present.