Bank of Maharashtra (BoM) has tied up with leading two-wheeler manufacturer Hero Honda to market the company's motorbikes to farmers in five select states. | |
| The state-run bank will market the bikes in Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh and Goa. For this, a memorandum of understanding (MoU) was signed by Bank of Maharashtra Executive Director Rajeev Madhok and Hero Honda's West Zone Manager Sanjay Mittal here on Friday, a bank release said. |
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| Madhok said BoM, which is also the convenor for state-level bankers' committee, will provide Hero Honda's two-wheelers to the farmers holding the bank's Kisan Card. |
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| Initially, the scheme is being launched in the five states through its 1,092 branches. The bank has decided to cover 15,000 customers in the first phase with a financial outlay of Rs 75 crore up to March 2007. |
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| Besides, the bank has an ambitious plan to increase the outstanding level of agriculture advances by Rs 1,000 crore during 2006-07, the release said. |
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| The bank will be disbursing Rs 2,100 crore to farmers throughout the country and has targeted to bring in about 50,000 new farmers in its fold, the release added. |
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