Excelsior Correspondent
SRINAGAR, Jan 9: To bolster the transport and logistics sector in the Union Territory of J&K and UT of Ladakh, J&K Development Finance Corporation Ltd (JKDFC), has signed a Memorandum of Understanding (MoU) with Eicher Trucks & Buses, a business unit of VE Commercial Vehicles Ltd (VECV).
JKDFC is Government of India Enterprise under the administrative control of DPIIT, Ministry of Commerce & Industry incorporated for providing financial assistance in the shape of term loan, working capital term loan to the existing entrepreneurs and upcoming entrepreneurs in various sectors like tourism, industries, transport, equipment, hydro power projects and other allied services.
The partnership is designed to provide seamless and affordable retail financing solutions for customers across J&K and Ladakh looking to purchase Eicher’s range of commercial vehicles.
Under the partnership, JKDFC will provide structured and affordable retail finance solutions to eligible buyers of Eicher commercial vehicles. The initiative aims to support small transport operators, fleet owners, first-time buyers and MSMEs by improving access to credit for commercial vehicle ownership.
Through this MoU, Eicher will get leverage by JKDFC’s deep regional presence and financial expertise to reach a broader customer base, ensuring a transparent, timely and convenient loan process for buyers.
The partnership marks a milestone in improving the ease of doing business for the local transport community, promising a more robust and modern logistics infrastructure for the UT of J&K and UT of Ladakh.
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