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Our Bureau

Mangalore , Aug. 9

THE Dharwad-based Malaprabha Grameena Bank, a regional rural bank sponsored by Syndicate Bank having its branches in Dharwad, Gadag, Haveri and Belgaum districts of Karnataka, has signed an agreement with New Holland Tractor Company to finance the tractors of the latter to eligible farmers.

A bank release said here on Tuesday that the Chairman of the bank, Mr B.S. Surendra, and the Deputy General Manager of the company, Mr Ajay Aneja, signed the agreement in Dharwad on Monday.

Speaking on the occasion, Mr Surendra said that farmers owning six acres of irrigated land and 15 acres of dry land are eligible for bank finance. He said that the tractor dealer would offer five free services and bear the registration cost.

Mr Aneja said that the company decided to have an agreement with the Malaprabha Grameena Bank as it has a large network of branches in Dharwad, Gadag, Haveri and Belgaum districts.

The company plans to sell around 1,000 tractors in Karnataka during the year. The company is producing tractors ranging from 35 HP to 75 HP to suit the Indian conditions, he added.

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Malaprabha Grameena Bank's pact to finance tractors to farmers

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