Financial Daily from THE HINDU group of publications
Thursday, Oct 07, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 07, 2004 |
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Money & Banking
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Public Sector Banks Agri-Biz & Commodities - Commodity Exchanges Dena Bank loans on easier terms for M&M tractors Our Bureau
Mumbai , Oct. 6 DENA Bank today informed that it has signed an MoU with Mahindra & Mahindra Ltd (M&M) to extend financial assistance to farmers buying M&M tractors. Against the norm of 15-25 per cent margin money, the bank will finance M&M tractors at a lower margin money of five per cent of the invoice cost of the tractor. "Even the land holding requirement has been reduced from existing eight acres of perennially irrigated land to four acres and the loans are repayable over a period of 7-9 years,'' an official statement said. On its part, M&M is offering a cash discount of Rs 3,000 on the invoice price of the tractor to be passed on directly to the farmer.
More Stories on : Public Sector Banks | Commodity Exchanges | HCV/LCV/Tractors
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