UBI aims to be market leader in equipment financing to the customers of JCB.

UBI aims to be market leader in equipment financing:

Union Bank of India has entered into partnership with JCB India Ltd (JCB) for extending equipment finance to the customers of JCB.

Under the partnership Union Bank of India and JCB have mutually agreed to pool their resources together and be associated with each other for mutual benefits. The wider reach of the Bank will help both Union Bank of India and JCB to extend the best offering to the buyer of JCB machines across the country.

JCB India is the largest manufacturer of Construction Equipment in India and are part of the Global JCB group from UK.

The Memorandum of Understanding (MoU) was signed at Mumbai by Shri C.M. Minocha, Chief General Manager, MSME, Union Bank of India and Shri Anuj Tomar, Associate Vice President and Head – Retail Finance, JCB India Ltd.

Speaking on the occasion, Shri C.M. Minocha, CGM, MSME, Union Bank of India, said “Equipment Financing to our existing and new customers is identified as a 'niche product for market leadership' by Union Bank of India. This tie up with JCB India Ltd will help both Customers of JCB and Union Bank of India with best in class offerings under Equipment Finance Scheme of the Bank.

JCB India Limited is a leading manufacturer of earthmoving and construction equipment in India. The company started as a joint venture in 1979 and is now a fully owned subsidiary of J.C Bamford Excavators, United Kingdom. With five state-of-the-art factories in India, JCB manufactures a wide range of world-class equipment in India for the domestic market as well as for exports to more than 110 countries.

JCB has a network of more than 60 dealers and 700 outlets spread throughout India, who further employ 8,000 professionally trained personnel. These far-reaching outlets provide vital product support to customers for their equipment. Five strategically set up warehouses at Pune, Chennai, Faridabad, Guwahati and Kolkata support these dealerships and outlets for parts supplies. The network also extends to the South Asia region of Nepal, Bhutan, Bangladesh, Myanmar, and Sri Lanka, where JCB businesses are managed by the Indian Operations.

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