Dharwad, October 19: Karnataka Vikas Grameeana Bank (KVGB) on Wednesday entered into an MoU with Piaggio Vehicles for providing financial support for the purchase of vehicles in variant models run in Diesel, CNG and electricity under Bank’s Small Road Transport Operators (SRTO) scheme.
The MoU was signed by P Srinivasa Rao, General Manager, Advances on behalf of KVGB, and Arghadip Roy, finance head for Piaggio Vehicles Ltd in the presence of P Gopi Krishna, Chairman of the Bank at the Bank’s Head office in Dharwad.
Speaking on the occasion P Gopi Krishna, Chairman, KVGB, emphasized that this initiative is value addition for customers and assured hassle free service at all the 629 branches particularly in rural and semi urban/urban areas where there is abundant potential for gainful employment through financing the Auto Rickshaws and Goods carrier.
Bank is in the forefront of offering value-added and innovative retail products and services to its customers. The tie-up with Piaggio Private Limited is one more step in this direction. At present the Bank has more than 4600 small road transport operator accounts with an outstanding balance of Rs.110 crore plus he added.
Arghadip Roy, finance head for Piaggio Vehicles Limited.
Speaking on the occasion said Piaggio Vehicles Limited is one of the leading three Wheeler manufacturing Company having legacy of 20 years in India and more than 500 service dealer network across the country. The MoU will bring synergy in the business development of the parties involved and will help pool resources to promote market for Vehicle and make accessible organized finance and best class of services to customers in the region including semi urban & rural areas he added.
General Manager, KVGB, P Srinivasa Rao said the association will help both the partners to reach out to customers and make auto loans convenient and easy for prospective owners.
Ullas Gunaga, CM, Marketing, KVGB, Amit Kumar Singh, Regional Head, Piaggio Vehicles Limited, Siva Prasad, Retail Finance, South India and others were present on the occasion along with customers & dealers.