Mahindra collaborates with the State Bank of India to finance agricultural equipment

Customers can apply for financing for tractors and farm machinery at their local Mahindra Tractor dealership or their nearest SBI bank.

The Farm Equipment Sector of Mahindra & Mahindra, the world's largest tractor manufacturer by volume, has partnered with the State Bank of India (SBI) to provide convenient credit alternatives for its tractors and farm machinery goods across India.

With a portfolio of over Rs 245,000 crore in agricultural advances covering over a crore farmers, the State Bank of India claims to be a market leader in agriculture financing in India.

It provides hassle-free and sufficient financing for the purchase of agricultural machinery such as tractors, combine harvesters, power tillers, and other farm machinery through its wide network of over 15,000 rural and semi-urban branches.

Customers can apply for financing for tractors and farm machinery at their local Mahindra Tractor dealership or at their nearest SBI bank.

In India, Mahindra has seven production sites and approximately 1,100 tractor and farm machinery dealerships. It has a global manufacturing and assembly presence through companies in North America, Brazil, Mexico, Finland, Turkey, and Japan.

"Financing is critical to ensuring that farmers are able to choose the right farm equipment for the smooth running of their operations. At Mahindra, we are pleased to partner with SBI for the financing of Mahindra's wide range of tractors and farm machinery," said Hemant Sikka, President - of Farm Equipment Sector, Mahindra & Mahindra.

"Technology plays an important role in increasing farmers' output and revenue," said Shantanu Pendsey, SBI's CGM - Agri Business Unit and Government Sponsored Schemes.

SBI with Mahindra will enable the sale of farm equipment through the most extensive touchpoint networks, providing comfort and ease to farmers' lives through a number of customized financing programs."