Mahindra Collaborates With State Bank Of India To Finance Tractors And Farm Machinery

Mahindra & Mahindra FES, the world's largest tractor manufacturer by volume, has partnered with the State Bank of India (SBI) to provide easy loan options for its tractors and farm machinery products across India.

Customers can visit the nearest Mahindra Tractor dealership to obtain financing for tractors and farm machinery, or they can visit the nearest SBI branch to begin the application process.

"Financing is critical to ensuring that farmers can choose the right farm equipment for the smooth running of their operations," said Hemant Sikka, President - of Farm Equipment Sector, Mahindra & Mahindra. "At Mahindra, we are pleased to partner with SBI for the financing of Mahindra's wide range of tractors and farm machinery."

"Technology plays a major role in increasing farmers' productivity as well as income," said Shantanu Pendsey, CGM - Agri Business Unit and Government Sponsored Schemes, SBI. Our collaboration with Mahindra will ensure the sale of farm equipment through one of the country's most extensive networks of touchpoints, bringing ease and convenience into the lives of farmers through a variety of our tailor-made finance schemes."

The State Bank of India claims to be a market leader in agriculture financing in India, with a portfolio of over Rs 245,000 crore in agricultural advances covering over a crore farmers. Through its vast network of over 15,000 rural and semi-urban branches, it provides hassle-free and adequate credit for the purchase of farm machineries such as tractors, combine harvesters, power tillers, and other farm machinery.

Mahindra has seven manufacturing facilities in India, as well as over 1,100 tractor and farm machinery dealerships. Through subsidiaries, it has a global manufacturing and assembly presence in North America, Brazil, Mexico, Finland, Turkey, and Japan.

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