Escorts Limited (Agri Machinery) reinforces its relationship with IndusInd Bank with a formal Memorandum of Understanding that will pave the way for both companies to provide one of the best financial offerings to its customers.
Escorts and IndusInd Bank will work together closely in understanding the financial needs of its customers and will jointly come up with various financial programs to enable customers invest in modern farm machinery to enhance their farm productivity and income.
The deal was formalised by Mr. Shenu Agarwal, CEO, Escorts Agri Machinery, and Mr. Shiban Kaul, Executive Vice President, Induslnd Bank.
Induslnd Bank with its understanding of rural customers and its wide penetration throughout the country will help Escorts Limited in moving towards its larger goal of fostering the dreams of the farming community of our nation.
On this occasion, Mr. Shenu Agarwal said "The rural industry is growing at a record pace and we are seeing our customers shifting towards technologically advanced agricultural practices. Our role here is to provide them with the best of products and make the process of purchase as simple as possible".
Adding to this, Mr. S.V. Parthasarathy, Head-Consumer Finance Division, IndusInd Bank said, "We are proud and excited to partner with Escorts Limited. With this partnership, farmers will have easy access to loans at attractive interest rates. Our association will bring transparency, seamlessness and convenience to support the farmers in their endeavour to nourish the nation".
Shares of Escorts Limited, was last trading in BSE at Rs. 1378.25 as compared to the previous close of Rs. 1376.8. The total number of shares traded during the day was 50737 in over 3619 trades.
The stock hit an intraday high of Rs. 1389.9 and intraday low of 1365. The net turnover during the day was Rs. 69794762.
Shares of IndusInd Bank Ltd. was last trading in BSE at Rs. 995.95 as compared to the previous close of Rs. 999.8. The total number of shares traded during the day was 109734 in over 3535 trades.
The stock hit an intraday high of Rs. 1005 and intraday low of 992.85. The net turnover during the day was Rs. 109409995.