Jugnoo partners with Punjab National Bank, Piaggio for easy auto finance

Auto-rickshaw aggregator Jugnoo, which counts Paytm and Freecharge CEO Kunal Shah among its investors, said it has tied up with Punjab National Bank and Piaggio to help secure easy financing for auto rickshaws.

"Piaggio and PNB have decided to relax the auto financing requirements to secure easy and swift financing for new auto rickshaws," Jugnoo said in a statement in Mumbai.

The new financing offer will be rolled out in Chandigarh, Jaipur, Gurgaon and Indore in the first phase, it added.

"This collaboration shall be a step towards revolutionising employment with resources becoming more accessible and affordable," the company's Founder and CEO Samar Singla said.

The new auto rickshaws purchased through this scheme will be registered with Jugnoo that will help the auto drivers to cut down on their down time, resulting in additional revenue.

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