August 19 in Srinagar: J&K Bank and LiuGong India Pvt. Ltd have agreed to be one another’s preferred financiers for consumers buying equipment from the firm across India in order to better serve its customers. One of the top producers of mining and construction equipment in the nation, including excavators, bulldozers, and wheel loaders, is the firm.
The Memorandum of Understanding (MoU) was signed at the Bank’s corporate headquarters in the presence of the company’s AGM (Customer Finance Support), Nitin Chandna, and other bank officers by Deputy General Manager (Corporate Banking), Nishi Kant Sharma, and Vice-President (Sales & Marketing), Nischal Mehrotra, on behalf of LiuGong India Pvt. Ltd.
DGM Nishi Kant Sharma stated, “We continue to tie up with leading companies across the country to provide easy, affordable, and attractive financing solutions that are tailored to meet the varied needs of customers in J&K, Ladakh, and in the rest of the country.” He then welcomed LiuGong India on board as partners.
“The agreement will be a win-win for all as it will add to the Bank’s credit portfolio because of the large ticket size of the loan,” he continued, “as well as providing the customers with suitable financial solutions for the purchase of heavy-duty equipment used in the construction and mining industry from LiuGong India.”
“We at LuiGong India are pleased to partner with the premier financial institution of the region with its great legacy of serving the people for the last 85 years in addition to being a trusted brand in the country’s Banking landscape,” said VP LuiGong India in expressing satisfaction over his company’s affiliation with the Bank.
Since J&K Bank, which is now our chosen lender, currently provides around 85% of the entire construction-equipment financing in Jammu and Kashmir, this arrangement makes good commercial sense for both companies. According to the agreement, clients would also get a little discount when they buy from LiuGong India, according to Nischal Mehrotra.”
