New Delhi [India], Sep 14 (ANI): Escorts Ltd has reinforced its relationship with IndusInd Bank with a formal memorandum of understanding that will pave the way for both companies to provide financial offerings to customers.

Both entities will work together in understanding the financial needs of customers and jointly come up with various financial programmes to enable customers invest in modern farm machinery to enhance their farm productivity and income.

Also Read | Meet Tanya Puri, a Professional Bridal Makeup Artist Who Has Taken Over the Beauty Industry With Her Impeccable Work.

The deal was formalised by Shenu Agarwal, CEO of Escorts Agri Machinery, and Shiban Kaul, Executive Vice President of Induslnd Bank.

Agarwal said the rural industry is growing at a record pace and customers are shifting towards technologically-advanced agricultural practices.

Also Read | Selfie Turns Fatal As 36-Year-Old Man Drowns in Sea Off Kerala’s Azhimala Beach While Clicking Photos.

"Our role here is to provide them with the best of products and make the process of purchase as simple as possible," he said.

S V Parthasarathy, Head of Consumer Finance Division at IndusInd Bank, said with this partnership, farmers will have easy access to loans at attractive interest rates.

"Our association will bring transparency, seamlessness and convenience to support farmers in their endeavour to nourish the nation," he said.

The Escorts Group is among India's leading engineering conglomerates operating in high growth sectors of agri machinery, material handling and construction equipment, and railway equipment.

IndusInd Bank has 2,015 branches/banking outlets and 2,872 ATMs spread across geographical locations of the country.

(ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)