VST Tillers Tractors Ltd and Axis Bank Partner to Support Farmers

Key Highlights

• VST Tillers Tractors Ltd and Axis Bank collaborate.
• Provide financial solutions for farmers.
• Easy loans, flexible repayment options, and quick approvals.
• Axis Bank's extensive network of 5370+ branches.
• Focus on small and marginal farmers.
• Enhance productivity and income with modern farm equipment.

VST Tillers Tractors Ltd, a leading farm equipment manufacturer in India, has entered into a partnership with Axis Bank to provide financial solutions for farmers. This collaboration aims to make it easier for farmers to purchase tractors and other essential farm mechanization products, thereby facilitating agricultural transformation in rural areas.

New Financial Solutions for Farmers

The agreement between VST Tillers Tractors Ltd and Axis Bank was formalized through a Memorandum of Understanding (MOU). Axis Bank, one of India's leading private sector banks, will offer a range of financial services to farmers looking to buy VST’s agricultural equipment. With an extensive network of over 5370 branches spread across the country, Axis Bank is well-positioned to reach a large number of farmers and provide them with the financial support they need.

Key People at the Signing

Antony Cherukara, CEO of VST Tillers Tractors Ltd, and Rajesh Dhage, Business Head of Farm Mechanization at Axis Bank, signed the MOU. The signing ceremony also saw the presence of Ramasawmy Gopalakrishnan, Head of Retail Assets for Bharat Banking at Axis Bank, and V T Ravindra, Managing Director of VST Tillers Tractors Ltd. These leaders expressed their commitment to supporting farmers through this new initiative.

Benefits for Farmers

This partnership is designed to make it easier for farmers to access credit facilities for purchasing modern farm equipment. Axis Bank will offer several benefits to farmers, including:

• Flexible Repayment Options: Farmers can choose repayment plans that best suit their financial situation.
• Swift Loan Approvals: The bank promises quick processing and sanctioning of loans.
• Special EMI Benefits: Farmers will receive special benefits on Equated Monthly Installments (EMIs), making it more affordable to repay the loans.

These financial solutions aim to reduce the financial burden on farmers and encourage them to adopt modern farming techniques, ultimately increasing their productivity and income.

Leaders Speak on the Partnership

Speaking at the MOU signing, Antony Cherukara, CEO of VST Tillers Tractors Ltd, said, “We are delighted to partner with one of the leading banks in the country. This collaboration will make our innovative farm equipment more accessible and affordable for farmers. Our goal is to help farmers in rural India mechanize farming, thereby increasing productivity. At VST, we attempt to ease farming by reducing the time and cost involved, improving output and farm income. We believe this MOU will especially benefit small and marginal farmers by providing hassle-free credit facilities for purchasing our products.”

Munish Sharda, Executive Director and Head of Bharat Banking at Axis Bank added, “Our mission is to engage and empower rural communities and marginal farmers by providing them with suitable financial solutions. By partnering with VST Tillers Tractors Ltd, we aim to address the financial challenges faced by these communities and encourage them to adopt effective farming techniques. As we strengthen our alliances with various partners from rural India, we are confident of making a significant impact on the lives of millions of farmers across the nation.”

Shared Vision for Empowering Farmers

Both VST Tillers Tractors Ltd and Axis Bank share a common vision of empowering the farming community. Their collaboration focuses on providing easy and accessible financial solutions to farmers, encouraging them to adopt innovative farming techniques. Axis Bank will ensure minimal documentation for loan applications, making the process simple and hassle-free. This partnership is a crucial step towards supporting and empowering the agricultural sector, aiming to boost productivity and enhance the livelihoods of farmers across India.

By joining forces, VST Tillers Tractors Ltd and Axis Bank are taking significant steps towards transforming agriculture in India, ensuring that farmers have the necessary resources and financial support to succeed in their attempts.

Also Read: Maharashtra Offers Up to 90% Subsidy on Mini Tractors for Small Farmers

CMV360 Says

The partnership between VST Tillers Tractors Ltd and Axis Bank aims to empower farmers by providing accessible financial solutions for purchasing modern farm equipment. This collaboration promises flexible repayment options and swift loan approvals, facilitating the adoption of advanced farming techniques. Together, they attempt to enhance productivity and income for farmers, particularly benefiting small and marginal farmers, thereby supporting the overall growth of India’s agricultural sector.