Financial Daily from THE HINDU group of publications
Saturday, Aug 07, 2004

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Money & Banking - Public Sector Banks
Agri-Biz & Commodities - HCV/LCV/Tractors

Union Bank tractor loans

Our Bureau

Mumbai , Aug. 6

UNION Bank of India has signed a memorandum of understanding for a tractor financing arrangement with Indo Farm Tractors & Motors Ltd and L&T - John Deere Pvt. Ltd on all India basis.

To be eligible for finance under this arrangement, the borrower should have 3 acres of perennially irrigated land whose valuation should not be less than the loan amount applied for.

Indo Farm Tractors & Motors Ltd has agreed to offer discount of Rs 6,000 for tractors up to 45 H.P. and Rs 6,500 for tractors above 45 H.P.

L&T - John Deere Pvt. Ltd has offered discount of Rs 4,000, said a press release.

More Stories on : Public Sector Banks | HCV/LCV/Tractors

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