A significant Memorandum of Understanding (MoU) was signed between Action Construction Equipment Limited (ACE), the country's leading manufacturer of construction equipment, tractors, and agricultural machinery, and Bank of India.
Under this agreement, Bank of India will provide financial assistance for the purchase of ACE tractors and agricultural machinery. This initiative aims to strengthen the agricultural sector in rural areas across the country and enhance the productivity of farmers.
On this occasion, Rishinder Singh Khaneja, Chief General Manager of ACE Tractors, said:
“We are very excited about this partnership with Bank of India. Our goal is to provide farmers with advanced tractors and agricultural equipment and to support them in meeting their financial needs. All ACE tractors are manufactured with three core principles in mind:
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Fuel efficiency (savings on diesel)
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Maximum torque
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Cost-effective maintenance
These ensure that farmers incur lower costs and achieve higher profitability. This agreement is an important step towards empowering the rural economy.”
On the same occasion, Nikhil Behera, General Manager (Priority Sector & Rural Business) at Bank of India, said:
“This partnership will help us provide financial assistance to farmers/customers at affordable rates. Together with ACE Tractors, we are committed to empowering farmers and rural communities. This collaboration is a step forward in giving a new direction to Indian agriculture and rural development.”
