Jammu and Kashmir Bank signed a Memorandum of Understanding (MoU) with Tata Motors, India’s leading commercial vehicle manufacturer, at its Corporate Headquarters here.
As per the agreement, J&K Bank will be preferred financer for Tata Motors Limited for financing all variants of commercial vehicles manufactured and marketed by them.
President Anil Deep Mehta signed the MoU on behalf of the J&K Bank while Vice President Sales & Marketing Rajesh Kaul put in his signatures for Tata Motors in presence of Chairman and Managing Director J&K Bank RK Chhibber. Bank’s Executive President Arun Gandotra, other senior officials from Bank and Tata Motors were also present on the occasion.
Asserting that Jammu and Kashmir has a huge potential to attract big corporates for investing in wide ranging business opportunities in the region, the CMD affirmed that J&K Bank is always on look-out for business collaborations for the benefit and convenience of its customers.
“As partnering with big and quality brands remains at the centre of J&K Bank’s strategic planning vis a vis customer gratification, we see arrangement with Tata Motors as an opportunity to ensure consistency in availability of wide-ranging and top quality end-to- end financial solutions to our customers. The MoU will enable customers to a premium go- to-market package – J&K Bank’s highly customized financial solutions blended with varied options of commercial vehicles provided by Tata Motors,” Chhibber added.
He further stated, “Considerable network of outlets and service centers of Tata Motors in the UTs of J&K and Ladakh complimented by J&K Bank’s huge presence in terms of network and finance in the region, this collaboration is a great opportunity for both the organisations to further their footprints across both the UTs and bring ease and comfort to their customers.”
Speaking on the occasion, Rajesh Kaul stated that both J&K Bank and Tata Motors should leverage this partnership for the profit of both organisations which will eventually benefit customers. “J&K Bank’s reach is extensive and wherever you go in this part of the world J&K Bank has a presence there. To tie-up with the largest financer of the region is a unique proposition and will add to our brand,” he emphasized.
As per the arrangement, pre-planned AMC at affordable rates will be provided for two years to the customers who avail finance on Tata Motors commercial vehicles from J&K Bank in the current quarter.
