Nandakumar signs MoU to boost business of construction equipment finance
Thrissur, Kerala-based Manappuram Finance India Ltd (MAFIL) has entered into a Memorandum of Understanding (MoU) with construction equipment manufacturer JCB India Ltd to finance the latter’s range of equipment and engineering products.
V.P. Nandakumar, MD and CEO of Manappuram Finance, said, “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,” he added in a release on 10 Oct 2023.
Incorporated in 1992, Manappuram Finance is one of India’s leading gold loans NBFCs engaged in providing finance against used household gold ornaments.
JCB INDIA is the largest manufacturer of Construction Equipment in India and has four factories, 1 each at Faridabad and Jaipur, 2 at Pune, and the one coming up at Vadodara. JCB India produces machines with global quality standards and also exports them to 100+ countries. fiinews.com
