Taking a big step towards empowering farmers, a Memorandum of Understanding (MoU) was signed on January 20, 2025, between Action Construction Equipment Limited (ACE) and Indian Bank in Lucknow. Under this partnership, Indian Bank will provide facilities such as minimum documentation (KYC and land-based loans), low interest rates, and faster loan approval through both digital and physical modes.
Easy and Affordable Loan Facility
This agreement focuses on providing easy loan facilities to farmers and other customers for the purchase of tractors, harvesters, and other agricultural equipment. As part of this partnership, loan facilities for ACE's high-quality agricultural equipment will be available through all branches of Indian Bank across the country.
On this occasion, ACE Limited's CGM, Ravindra Singh Khaneja, and Retail Department's Anjani Ojha shared information about the company's products. Indian Bank's CGM, Sudhir Kumar Gupta (Regional General Manager Lucknow), discussed in detail the bank's special loan schemes and their benefits.
Key Officials Present
From ACE Limited:
Uttar Pradesh Retail Heads: Vishal Singh and Mohit Tyagi, Zonal Manager Manish Dixit, Divisional Manager Shakti Nath Tiwari, and other senior officials.
From Indian Bank:
Shyam Shankar, DGM, and Amal Sinha, AGM (from the Regional General Manager Office Lucknow); Pranavesh Kumar, DGM (Zonal Manager Lucknow); Satish Sonkar, DGM (Zonal Manager, Gorakhpur); and other senior bank officials from Uttar Pradesh.
Big Benefit for Indian Farmers
Through this agreement, Indian farmers will now be able to easily access ACE's tractors, harvesters, and other agricultural equipment under the special loan schemes of Indian Bank.
