Financial Daily from THE HINDU group of publications
Saturday, Sep 25, 2004
Financial Daily from THE HINDU group of publications Saturday, Sep 25, 2004 |
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Money & Banking
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Public Sector Banks Vijaya Bank inks MoU with Punjab Tractors Our Bureau
Bangalore , Sept. 24 VIJAYA Bank has entered into a memorandum of understanding with Punjab Tractors Ltd with a view to facilitate farmers purchase tractors on softer terms. A Vijaya Bank release said here on Friday that the bank was now ready to finance tractors to farmers, who have even four acres of land. Earlier, the landholding requirement was eight acres for financing tractors. Further, the farmer would get a discount of Rs 4,000 from the manufacturers and authorised dealers. The release added that interest concession of 0.50 per cent would be extended by the bank to farmers and the margin requirement would only be 5 per cent of the purchase price.
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