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J&K Bank ties-up with Avon Cycles to finance e-vehicle portfolio

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June 5, 2024
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SRINAGAR: Going ahead with its pro-active eco-friendly approach, J&K Bank has entered into a Memorandum of Understanding (MOU) with M/S Avon Cycles Ludhiana to provide financing for all products in their electric vehicle (e-vehicle) portfolio. This includes e-scooters, e-rickshaws, and e-carts from authorized dealers of Avon Cycles.

As per the agreement, the Bank’s customers will get a free tool kit, first aid kit and jack with rod along with a stepney cover besides first three services free of cost for the vehicle.

The MOU signing ceremony took place at Avon Cycles’ Corporate Office located on G.T. Road, Ludhiana. Zonal Head (Kathua) Sanjeev Kumar signed the MoU on behalf of J&K Bank, while Executive Director Mandeep Singh Pahwa put in his signatures representing the company in the presence of CMD (Avon Cycles) Onkar Singh Pahwa, Bank’s Cluster Head (Mohali) Iftikhar Abdullah, Branch Manager (IA Ludhiana) Irfan Bashir and other officials of the company.

Expressing his enthusiasm about the partnership, CMD Onkar Singh Pahwa highlighted the bright prospects it holds and the anticipation among the company’s dealers, particularly from the J&K region. He also thanked the management of J&K Bank for their support and cooperation in this initiative.

While emphasizing that these collaborations are intended to create seamless pathways for the Bank’s customers, Zonal Head Sanjeev Kumar discussed the bank’s strategic vision of fostering such partnerships to enhance the customer experience. He urged the management of A One Cycles to extend their dealership and product delivery network to leverage J&K Bank’s extensive branch network by offering concessional benefits and additional perks.

Cluster Head (Mohali) Iftikhar Abdullah remarked that the partnership would immensely benefit customers across the nooks and corners of the J&K Union Territory.


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