Magma extended its activities to the financing of tractors in 2007-08

We provide secured tractor finance for agricultural and commercial use (hiring tractors for commercial transportation of goods in agricultural areas)

The new service provides funding to the farming community all over the country for purchase of M&M, TAFE, John Deere, New Holland, ITL etc. brand of tractors and other equipment which they need for agriculture and allied purpose

This opportunity leverages the established distribution and dealer network of the major manufacturers and facilitate the cross-sale of other financial products such as insurance and loans for all types of farm equipment

The product is in line with Magma's focus on rural markets