Karnataka Bank has signed Memorandum of Understanding (MoU) with JCB India, a manufacturer of earthmoving and construction equipment in India. The tie up arrangement with JCB India is expected to boost the lending avenues under the Bank’s MSME portfolio.
Under this MoU, JCB will be nominating Karnataka Bank as its ‘preferred financier’ where in Individuals/Contractors/Company /Partnership firms/LLP etc., can avail loans from the Bank at competitive interest rates for purchasing a wide range of equipment from the product line of JCB India.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.