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J&K Bank inks MOU with Royal Enfield for retail financing

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October 16, 2023

Srinagar, Oct 16: J&K Bank has entered into an agreement with Royal Enfield (a unit of Eicher Motors Limited) to become one of the preferred financiers of Royal Enfield – one of the country’s leading brands in the mid-size motorcycle segment.

The Bank’s General Manager Syed Shujaat Hussain Andrabi presided over the signing ceremony. Deputy General Manager Arshad Hussain Dar signed the documents on behalf of the bank, while National Business Head Shreenath M. Kamlapurker signed on behalf of Royal Enfield. Many other officials of the Royal Enfield and the Bank were also present on the occasion.

While pitching for providing ease to customers intending to buy motorcycles, Shujaat Andrabi asserted that both the companies will work in close co-ordination with each other through their respective branches and dealers to extend utmost convenience to the customers. He further said, “As a responsible financial institution, we remain committed to serve customers with the products and services that are tailored to meet their choice. Through this MOU we will offer our customers tailor made financial solutions for the purchase and ownership of Royal Enfield Motorcycles.”

Commenting on the partnership, Chief Commercial Officer (CCO) at Royal Enfield Yadvinder Singh Guleria, said, “We are delighted to partner with Jammu & Kashmir Bank to offer flexible and convenient financing solutions tailored to the diverse needs of our customers especially in J & K and Ladakh. This partnership aims to enhance accessibility to Royal Enfield motorcycles for enthusiasts, providing a seamless and hassle-free experience, all while optimizing savings.”

Earlier while giving an overview of the MOU, DGM Arshad Hussain told the participants, “I am sure that with our extensive branch network and financial expertise, we will leverage this association with financing options that comfortably meet the requirements of varied clientele across our areas of operations.”


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