Karnataka Bank reaches pact with farm equipment maker

Karnataka Bank Ltd has entered into a memorandum of understanding (MoU) with Indo Farm Equipment Ltd to provide financing to those customers who purchase combine harvester, hydraulic cranes and tractors of various models.

A press release said here that financing will be extended under the bank's ‘KBL-Krishik Sarathi' scheme. Customers who avail finance under this MoU will get price discount on each unit of machinery. The machinery financed under the scheme will carry warranty for one year from the date of sale, it said.

Mr B. Ashok Hegde, General Manager of the bank, and Mr O.P. Babu, Regional Manager, Indo Farm Equipment Ltd, signed the MoU, the release added.