Karnataka Bank and Hyundai CE India collaborate for financing machineries/equipment

⏺ Karnataka Bank signed a Memorandum of Understanding (MOU) with Hyundai Construction Equipment India Pvt Ltd, leading construction and earthmoving equipment manufacturer. The MoU was signed and exchanged by Mr. Rajiv Chaturvedi, VP- Hyundai Construction Equipment India and Mr. Mahabaleshwara M.S, Managing Director & CEO, Karnataka Bank.

⏺ The partnership with Hyundai is expected to broaden the Bank's MSME funding prospects. This MoU will allow both Hyundai and Karnataka Bank to provide consumers with customized financial solutions. With this tie up, Bank will be designated as a financial partner and will be able to meet the needs of its customers by providing loans at competitive interest rates for purchase of a wide range of equipment from the product line of Hyundai CE India Pvt Ltd.

⏺ Speaking on the occasion, Shri Mahabaleshwara M.S, Managing Director & CEO, Karnataka Bank, said, “the Bank is at the forefront of funding MSMEs, and we are delighted to have partnered with Hyundai Construction Equipment India Pvt Ltd, who share similar principles of excellence, integrity, and long- term development. Our bank offers numerous financing solutions for the purchase of machineries/equipment to our customers, with competitive rate of interest and speedy sanction of loans through digital platform. Karnataka Bank is firmly devoted to providing attractive finance schemes through such arrangements.”

⏺ Mr. Rajiv Chaturvedi stated on the occasion: “It is our constant endeavor to bring new value added solutions for our customers. This partnership with Karnataka bank will help Hyundai customers to leverage the wide network of Bank in various parts of the country and avail its variety of financial products and solutions for their business needs. “

⏺ Mr. Chaturvedi further added that “Hyundai is the second largest selling construction equipment manufacturer in India .We have recently crossed the milestone of 35000 Excavators sales and are rapidly increasing our footprint in various parts of country by establishing more touchpoints for smart service delivery to our customers, it is equally important that customers get easy finance support from reputed financial organization at competitive interest rate .Todays collaboration with Karnataka Bank will help us in achieving the same.”

⏺ Present on the occasion were Mr. Jayakrishnan G, Business Head South, Mr. Rinu Philip, RGM South from Hyundai construction Equipment along with Mr. Balachandra Y V, Chief Operating Officer, Mr. Gokuldas Pai, Chief Business Officer, General Managers & other Executives of Karnataka Bank.