Grameen Bank in pact with Souza Sifang for financing tillers

Jammu and Kashmir Grameen Bank has signed a memorandum of understanding with a Bangalore-based company for financing power tillers to the farmers in the state.

Among the various objectives mentioned in the MoU with Souza Sifang Agro Engineering,the scheme envisages free insurance on behalf of company to borrower and providing electric rice cooker,an official spokesman said.

He said the power tillers are efficient agri-engineering product and suitable substitute to tractors,rendering closest services as of tractor.

The MoU was signed by General Manager of the bank Mohammad Altaf Bhat,on behalf of J&K Grameen Bank,and Marketing Manager of Souza Sifang Agro Engineering.