Srinagar, June 18: With a view to bring more mechanization in farm sector and give boost to productivity in the state, J&K Bank today signed a Memorandum of Understanding (MoU) with Premier Power Equipments & Products Pvt Ltd (PPEP), India’s leading agricultural equipment manufacturing company, here today.
 R K Shah, Vice-President for Strategy & Business Development (S&BD) signed the agreement on behalf of the J&K Bank while A Rajkumar, CEO & Director put in his signatures on behalf of PPEP in presence of Tafazal Hussain, President S&BD.
 In his presidential address Tafazal Hussain said that the purpose of such tie-ups was to see J&K evolve as a highly developed and economically self-reliant state.
 Stating that the agreement would work like a catalyst in using agricultural equipments, Hussain informed that the Bank would be extending the finance to agriculture equipment buyers under “JK Bank Kisan Dost Finance”, a highly customized and hassle-free product.
 Speaking on the occasion R. K Shah said, the nearest branch of the bank will promptly process the application and disburse the loan within 72 working hours.
 Also present on the occasion A. Rajkumar said “We approached J&K Bank keeping in mind its vast network and wide reach. Agricultural equipments like Garuda Super Weeder, Garuda Master Weeder and Garuda Mini Weeder will revolutionise the farming.”
 According to the MoU, Hanief Motors, Residency Road here, who is the dealer of the PPEP for J&K would apprise prospective customers about the advantages and soft terms of finance available through the J&K Bank and shall help them in applying for it. The tie-up will cover the whole J&K State.

Lastupdate on : Sat, 18 Jun 2011 21:30:00 Makkah time
Lastupdate on : Sat, 18 Jun 2011 18:30:00 GMT
Lastupdate on : Sun, 19 Jun 2011 00:00:00 IST