This collaboration between SANY India and J&K Bank is strategically designed to leverage the strengths of both entities
FinTech BizNews Service
Mumbai, March 13, 2024: SANY India, a leading manufacturer of construction equipment, has taken a significant stride towards offering improved financial solutions to its customers. The company has formalized a Memorandum of Understanding (MoU) with J&K Bank, aiming to stimulate substantial growth and development opportunities within the region, while facilitating easier access to SANY India’s advanced product line along with readily available financial solutions.
The MoU was signed in the presence of Mr Nishikant Sharma, Deputy General Manager of J&K Bank, and Mr Sanjay Saxena, COO of SANY India, accompanied by senior officers from both organizations.
This collaboration between SANY India and J&K Bank is strategically designed to leverage the strengths of both entities, providing comprehensive financial solutions to customers, including competitive interest rates and flexible repayment plans, to support the procurement of essential machinery for infrastructure projects.
Mr. Sanjay Saxena, COO of SANY INDIA, stated, “We are delighted to partner with J&K Bank, a leading institution of economic well-being within its operational areas. This collaboration signifies our commitment to delivering exceptional financial services alongside our cutting-edge products, empowering customers across Jammu and Kashmir and Ladakh.”
Highlighting the significant reliance on J&K Bank for equipment financing in the previous year, Mr Saxena added, "With 80% of our equipment sales in Jammu and Kashmir financed through J&K Bank, this partnership underscores the bank’s deep penetration and significance in the region. As J&K Bank becomes our preferred financier, customers can conveniently access financing solutions for our earthmoving and construction equipment without exploring alternative options.”
Mr Nishikant Sharma, Deputy General Manager of J&K Bank, echoed these sentiments, stating, “We continuously strive to provide beneficial opportunities for our customers. With construction activities thriving in J&K and Ladakh, the demand for earth-moving and construction equipment is on the rise. Through our Construction Equipment Finance scheme, prospective buyers of SANY equipment can easily avail finance tailored to meet their financial requirements.”
He emphasized the importance of strengthening the relationship between the two companies to achieve mutually beneficial future growth.
