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Our Bureau

MUMBAI: Bank of Baroda (BoB) has tied up with Mahindra and Mahindra Ltd (M&M) for tractor financing.

Both parties have entered into a memorandum of understanding as per which, a special discount of Rs 3,000 has been offered to farmers who purchase tractors from M&M with financial assistance from BOB, said a press release.

The bank plans to boost its farm mechanisation activities for which it provides loans of Rs 10 lakh at 9.25 per cent per annum with a 10 per cent down payment.

More Stories on : Alliances & Joint Ventures | Farm credit | HCV/LCV/Tractors | Public Sector Banks

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