Shakti Pumps (India) announced that the company has signed a Memorandum of Understanding (MoU) with Ratnakar Bank (RBL) under which the company's customers, primarily the farmers will be able to secure credit facilities for buying Solar Pump sets, PVC pipes and drip irrigation products and host of products across the bank's network.

Shakti is among the few pioneers in the world to produce 100% stainless steel submersible pumps and motors. Today Shakti is rubbing its shoulders with best brands in the world thanks to the state-of-the art technology and innovation as its hallmarks. The main focus of the company is to manufacture best quality pumps which consume less energy, have long life and are easy to maintain.

Shares of the company declined Rs 0.95, or 0.4%, to trade at Rs 236.85. The total volume of shares traded was 42,362 at the BSE (3.46 p.m., Wednesday).