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Karnataka Bank Ltd has signed a memorandum of understanding (MoU) with the Rajkot-based Tirth Agro Technology Pvt Ltd (manufacturer of agricultural equipment and implements) for financing agricultural mechanisation.
Quoting P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank, a press release said here that the MoU aims to work together to promote agricultural mechanisation by utilising the experience the bank has in agricultural finance through its vast network of branches and the expertise of the company in the field of manufacturing of agricultural equipment and implements.
The bank has a network of 740 branches in 21 states and two Union Territories.
Tirth Agro Technology Pvt Ltd manufactures agricultural implements under the brand name ‘Shaktiman’. It has a network of more than 685 dealers and 42 distributors across the country, the release said.
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