Manappuram Finance India has entered into a Memorandum of Understanding (MoU) with construction equipment manufacturer JCB India to finance the latter’s range of equipment and engineering products. As per the agreement, the finance options will be available across the country. The pact will go a long way in helping both sides increase their business volumes.
“We are pleased to announce the signing of an MoU with JCB India for financing a range of their construction equipment. This MoU will lead to higher volume growth for both partners. It will help both companies to leverage each other’s strengths in the respective markets,” said VP Nandakumar, MD and CEO, Manappuram Finance.
He further said that this agreement opens up “our network of branches to expand their dealership footprint across India, and is an integral part of our efforts to diversify our portfolio offering by making a foray into new verticals to spur growth.”