Sonalika Group companies — International Cars and Motors Ltd (ICML), makers of the Rhino brand MUV, and International Tractors Ltd (ITL), the third largest tractor manufacturer and provider of advanced agriculture equipment — signed two MoUs with Punjab Gramin Bank today in the Kapurthala (Punjab) head office to provide financial facility for their buyers.
According to the agreement between ICML and Punjab Gramin Bank, the bank will extend and provide the finance for buying Rhino Rx across eleven districts of Punjab at attractive interest rates and easy repayment options for 84 months. According to another MoU signed between ITL and Punjab Gramin Bank, the bank will provide finance to farmers for buying Sonalika tractors at a competitive interest rate with repayment options in 18 half years.
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