Manappuram Finance inks deal with JCB India to finance products

NBFC Manappuram Finance has signed a memorandum of understanding (MoU) with construction equipment manufacturer JCB India Ltd to finance the ITS range of equipment and engineering products. “This MoU will lead to higher volume growth for both partners. It will help both companies to leverage each other's strengths in the respective markets,” said VP Nandakumar, MD and CEO of Manappuram Finance.

Under the agreement, the finance options will be available across the country. "The pact will go a long way in helping both sides increase their business volumes," according to a press release.

“This agreement with JCB India opens up our network of branches to expand their dealership footprint across India and is an integral part of our efforts to diversify our portfolio offering by making a foray into new verticals to spur growth. It is indeed a major step to boost our business of construction equipment finance,” Manappuram Finance MD said.