J&K Bank signs MoU with RCJ Auto Forge Pvt Ltd to offer easy financing for e-vehicles

Srinagar, May 29: In line with its pro-active approach towards eco-friendly transportation solutions, Jammu & Kashmir Bank today entered into a tie-up with RCJ Auto Forge Pvt. Ltd. to provide the customers of both organizations an access to easy financing options for all variants and models of electric three-wheelers manufactured and marketed by the company.

Under this agreement, RCJ Auto Forge Pvt. Ltd. will extend preferential treatment to the Bank’s customers across India by offering an upfront discount of Rs 5,000 on all models of L3 and L5 e-rickshaws.

Deputy General Manager (Corporate Banking/MSME) Nishikant Sharma signed the agreement on behalf of J&K Bank, while Managing Director, Amit Jain put in his signatures for RCJ Auto Forge Pvt. Ltd. in presence of DGM (Consumer & Commercial Banking) Arshad Hussain Dar, AGM Suhail Ahmad Lone, Head (eV Sales RCJ) Amarbir Singh, Chairman Total Vehicleades (an RCJ Dealer) Dr. Mehboob and other senior officials from both the organizations during a signing ceremony held here at the Bank’s Corporate Headquarters.

Commenting on the occasion, DGM Nishikant Sharma emphasized the importance of customer convenience and environmental responsibility. "As a responsible financial institution, we are committed to providing products and services that cater to our customers' preferences while supporting sustainable initiatives. This MoU with RCJ Auto Forge Pvt. Ltd. underscores our dedication to making eco-friendly transportation accessible and affordable for our customers. We look forward to a fruitful collaboration that benefits both our customers and the environment," he said.

Speaking on the partnership, MD Amit Jain said, “We are extremely delighted and confident that our collaboration with J&K bank for providing retail financing solution will further benefit our customers. With its extensive branch presence pan India and strong presence in Jammu & Kashmir and Ladakh, J&K Bank will help us expand our customer base. Both RCJ Auto Private Limited and J&K Bank are committed to deliver the best customer service by making the experience delightful.”

Notably, as the preferred financier for RCJ’s e-rickshaws, J&K Bank will collaborate with RCJ Auto Forge Pvt. Ltd. to develop and execute sales promotion activities aimed at mutual business growth. This strategic partnership is designed to provide customers with the utmost convenience through seamless coordination between the branches and dealers of both entities.