4855 Views
Updated On:
VST Tillers Tractors Ltd partners with Axis Bank to provide farmers with easy financial solutions for purchasing 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.
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.
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.
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:
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.
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.”
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
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.