JAMMU, Nov 18: J&K Grameen Bank, one of the leading Regional Rural Banks in the Union Territories of J&K and Ladakh today signed an MoU with M/s Piaggio vehicles Private Limited (PVPL) for finance of three and four wheelers of all variants and models.
This is another step in J&K Grameen Bank’s initiative to tap the vast potential in market and to provide the hassle-free services to the rural and urban masses and to boost the credit dispensation under significant schemes of the Bank viz. Commercial Vehicle Finance and Financing Farmers for Purchase of vehicles.
The MoU was signed between J&K Grameen Bank (JKGB) and M/s Piaggio Vehicles Private Limited by their authorized signatories in presence of the Chairman of J&K Grameen Bank, Janak Raj Angural.
The MoU was signed by General Manager Davinder Kumar Bali on behalf J&K Grameen Bank and Vice President Retail Finance and Channel Funding, Praveen Nagpal on behalf PVPL.
Other dignitaries present on this occasion were Devi Dayal Gupta, Chief of Audit and Inspection, JKGB, Altaf Hussain Sediqi, General Manager (Kashmir) JKGB, Ram Pal Sharma, HoD, Credit Administrative Department JKGB, Santosh Kumar, Manager Retail Finance and Channel Funding North PVPL along-with other officers from J&K Grameen Bank and M/s Piaggio Vehicles Private Limited.
On the occasion both the signing dignitaries expressed the hope that since J&K Grameen Bank has a large customer outreach in the region and M/s Piaggio Vehicles Private Limited is one of the leading manufacturers of commercial three and four wheelers in India with vast sale and service dealer network across the region, the MoU will bring synergy in the business development of the parties involved and will help pool resources to promote market for three and four wheelers and make accessible organized finance and best class of services to customers in the region including semi urban & rural areas.
“This tie up will further empower employment and earning of customers through schemes of JKGBs for providing hassle-free finance for three and four wheelers of all variants and models especially financing farmers for purchase of vehicles”, they added.