ACE Limited and Indian Bank partner to empower farmers with easy loan facilities

25 Jan, 2025

The Indian Bank and Action Construction Equipment Limited (ACE) signed an MoU on 20th January 2025 in Lucknow. This collaboration simplifies agricultural equipment finance to improve Indian farmers' capabilities to grow more crops. Mr. Sudhir Kumar Gupta, Chief General Manager of Indian Bank, and Mr. Vishal Singh, Retail Head (UP), ACE Limited, along with other Indian Bank executives, attended the event. 

Key Highlights of the MoU

This agreement authorises the Indian Bank to offer extra incentives to farmers, making ACE's premium agricultural equipment more accessible. Notable benefits include:

• Simplify loan applications using KYC and land documentation.
• Low interest rates on loans allow farmers to buy the latest agricultural equipment.
• The agreement speeds loan processing by giving fast access to funds via traditional and digital channels.

Financial Solutions for Agricultural Equipment

Through this cooperation, farmers can obtain suitable financing solutions to acquire ACE's varied agricultural equipment. The major modern machinery by ACE includes tractors, harvesters, and other farming equipment. 

Nationwide Availability

An essential aspect of this MoU is the national scope of the Indian Bank. Farmers have the opportunity to visit any branch to conveniently acquire ACE's exceptional agricultural machinery and take advantage of these financial incentives.

A Step Towards Agricultural Empowerment

This agreement marks major progress in helping the farming community by means of financial accessibility and the adoption of advanced agriculture methods. The cooperation between the Indian Bank and ACE is expected to improve farmers' output and help the agriculture industry to develop in India.