Excelsior Correspondent
JAMMU, Apr 28: Jammu and Kashmir Bank (JKB) signed a Memorandum of Understanding (MoU) with Mahindra & Mahindra Ltd (M&M Ltd), India’s leading SUV manufacturer to enable M&M customers to avail vehicle finance from any of the business units of the Bank.
The MoU was signed by Pushap Kumar Tickoo, president, JKB and Arun Malhotra, Chief Sales & Customer Care Officer, Mahindra & Mahindra Ltd in the presence of Abdul Hamid Banday, executive president of the bank and Jyoti Malhotra, senior general manager- Sales (North Zone), M&M.
The tie-up will enable both JKB and M&M to leverage on the inherent strengths of each other’s vast network of 685 business units and over 250 dealer outlets respectively across India.
Speaking on the occasion, Abdul Hamid Banday said, “JKB is expanding its operations in commercial and passenger vehicle financing. It has been making niche offerings to its customers and this arrangement with M&M will be one such special initiative. Customers of JKB will benefit from this tie-up since they will have privileged access to the specialized services of M&M.”
“This partnership will definitely benefit customers. We have customized a comprehensive product catering to the varied needs of this niche customer base. We will promote it proactive offering competitive interest rates and we expect to increase our portfolio considerably in this segment”, said Pushap Kumar Tickoo after putting in his signatures on the MoU.
Speaking on the tie-up, Arun Malhotra said, “At Mahindra, we relentlessly look at options to provide the best schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. JKB offers innovative products and services at affordable rates. With highly competitive schemes for car loans and commercial vehicles, we are hopeful of a good response from our dealers and customers”.
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