Union Bank of India extends Equipment Finance to JCB customers

Mumbai, 22 August (KNN) Union Bank of India on Monday signed a MoU with JCB India Ltd (JCB) to provide ‘Equipment Finance’ to the customers of JCB.

Under the partnership Union Bank of India and the construction equipment manufacturing company have mutually agreed to pool their resources together and be associated with each other for mutual benefits, as per the statement.

The government-owned bank aims to create ‘market leadership position of the Bank in equipment financing’ through its collaboration with JCB.

The agreement was signed by C.M. Minocha, Chief General Manager, MSME, Union Bank of India and Anuj Tomar, Associate Vice President and Head – Retail Finance, JCB India Ltd.

Speaking on the occasion, Minocha, said “Equipment Financing to our existing and new customers is identified as a 'niche product for market leadership' by Union Bank of India.”

This association with JCB India Ltd will help both Customers of JCB and Union Bank of India with best in class offerings under Equipment Finance Scheme of the Bank, he added.

The wider reach of the Bank is expected to help both Union Bank of India and JCB to extend the best offering to the buyer of JCB machines across the country.  (KNN Bureau)