CHOLA VALUE-ADD FOR JCB CUSTOMERS THROUGH AZADI MAHOTSAV SCHEME
CHOLA VALUE-ADD FOR JCB CUSTOMERS THROUGH AZADI MAHOTSAV SCHEME
Chennai, August 09, 2022: As a value add to its already existing partnership with JCB India and as part of the nationwide ‘Azadi Ka Amrit Mahotsav’ (75 years of Independence) celebrations, Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, today announced an exclusive finance scheme with JCB India Limited wherein JCB customers can benefit from easy and attractive loan offering
Chola is the preferred financier for JCB’s entire range of construction equipment and machinery since 2017. Chola has customized its products and offerings to suit the needs of JCB’s customers.
Speaking on the occasion, Mr. Ravindra Kumar Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited said, “We are happy to be further strengthening our already existing partnership with JCB on the occasion of 75 glorious years of India’s independence, which is a proud moment for each and every citizen of our country. India is today undergoing massive development wherein the infrastructure sector is a key driver for the Indian economy. This sector is highly important for propelling India’s overall development and enjoys intense focus from the Government in terms of policies that would ensure time-bound creation of world class infrastructure in the country, be it power, bridges, dams, roads or urban infrastructure development. JCB’s culture of innovation and excellence, which reflects in their products, will continue to bring added value to our customers. Our alliance with JCB is also in line with our continuous endeavour in enabling our customers to ‘Enter a Better Life’.”
“We are very proud that JCB products have contributed significantly to the building of Infrastructure in the country. Our Customers have always reposed their faith in us and we will continue to work towards giving them the Industry’s finest ownership experience. Chola has been our preferred partner and our association with them goes back to 2017. JCB has over 700 dealer outlets and with Chola’s 1148 branches we will work together on this special LTV offer for our customers so that they can avail the best possible benefits for their equipment financing needs. Together, JCB and Chola will continue to explore growth in the construction equipment and machinery business in the country,” said Mr. Deepak Shetty, CEO and Managing Director, JCB India Ltd.
JCB India has a wide range of equipment for its customers. The company has positioned itself to play a pro-active role in improving the productivity of its customers in the construction equipment sector. JCB’s machines have been contributing to the development of infrastructure in India for over four decades and it provides a solution-based support for its products by providing training of manpower, monitoring, parts back up and service support.
Over the past two and a half decades, Chola has created value for its customers by supporting them in becoming entrepreneurs in the field of commercial transportation. The company has financed over 19 Lakh satisfied customers and increasing every month. Chola enjoys a valued and stable relationship with manufacturers and dealers, which is one of the key reasons why it is a leader in the commercial vehicle segment.
About JCB India
JCB India Limited is a leading manufacturer of earthmoving and construction equipment in India. It started as a joint venture in 1979 and is a fully owned subsidiary of J.C Bamford Excavators UK.
An embodiment of the vision of an Atmanirbhar Bharat, JCB has Six state-of-the-art factories in India at Ballabgarh, Jaipur, Pune and Vadodara (Halol). It also has a design centre at Pune which works on Domestic as well as Global projects. All factories operate to ‘One Global Quality’, and JCB’s ‘Made in India’ products are being used in over 125 countries.
It introduced the iconic Backhoe Loader in India over four decades ago and has since expanded its range to more than 60 products in Nine categories.
It has more than 60 dealers and over 700 outlets. Parts warehouses at Pune, Bengaluru, Bhaproda, Kolkata and Guwahati support these dealerships and outlets for Parts supplies.
The company has pioneered the integration of digital technology into construction equipment through JCB Livelink, an advanced Telematics Technology that gives real-time updates on Service Operations and Security of the machine. Livelink has today revolutionised fleet management in the Industry. Through its Parts application, JCB customers can now also purchase Parts online.
It has built and supported a local supply chain for the manufacturing of its products in India. World-class Indian suppliers are aligned to JCB’s group objectives and have grown along with the company through various supplier development and cluster initiatives.
The company’s CSR initiatives extend across three in-house foundations and Nine of the Sustainable Development Goals. Its CSR projects also include Nila House, which is a centre of excellence for craft in Jaipur and the JCB prize for Literature.
Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers.
Chola operates from 1148 branches across India with assets under management above INR 86,703 Crores. The mission of Chola is to enable customers enter a better life. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is a strict adherence to ethics and a responsibility to all those who come within its corporate ambit - customers, shareholders, employees and society. For more details, please visit www.cholamandalam.com
About Murugappa Group
Founded in 1900, the INR 417 Billion (41,713 Crores) Murugappa Group is one of India's leading business conglomerates. The Group has 29 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., CG Power and Industrial Solutions Ltd., Cholamandalam Financial Holdings Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd. and Wendt (India) Ltd.
The Group holds leadership position in several product lines including Abrasives, Technical Ceramics, Electro Minerals, Auto Components & Systems, Bicycles, Fertilisers, Sugar, Tea and Spirulina (Nutraceuticals). The Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents. For more details, visit https://www.murugappa.com