Indian Bank has partnered with TAFE (Tractors and Farm Equipment) and its wholly owned subsidiary TMTL (TAFE Motors and Tractors Ltd.) for tractor financing.
The tie-up would allow farmers and individuals to avail tractor loans at affordable interest rates, with the benefit of hassle-free loan processing, the public sector lender said in a statement. Interested buyers can avail tractor financing benefits from more than 5,700 branches, Indian Bank said.
V. Chandrasekaran, General Manager, Rural Banking/SLBC/RRB, Indian Bank, said that they were expecting a sanction of ₹500 crore in FY24.
