South Indian Bank Signed an MoU with Mahindra and Mahindra Ltd (M&M) for Dealer Financing
News Desk, News Nation 360 : South Indian Bank (SIB) signed an MoU (Memorandum of Understanding) with Mahindra and Mahindra Ltd (Automobile division) for providing the latter’s dealers with financing solutions. Under the partnership, SIB will provide unmatched dealer finance solutions to M&M’s dealers, thereby meeting their vehicle inventory funding requirements. The MoU was exchanged between Rakesh Sen, Vice President, SPOC, Mahindra & Mahindra and Biji S.S, Senior General Manager and Group Business Head, South Indian Bank, in the presence of Amit Jaiswal, DGM - Channel Finance & Dealer Business Development, Mahindra & Mahindra, Praveen Joy, DGM & Head Transaction banking Group, Ramesh U, DGM & ZSH, Corporate Business Group, South Indian Bank. Speaking on the alliance, Biji S.S., Senior General Manager & Group Business Head of South Indian Bank, said that in line with their customer-centric strategy, they are signing this MoU. This alliance augments their focus on dealer finance business and they are confident that through their diverse finance solutions, they will be able to provide their dealers with inclusive finance options. Their partnership will provide the dealers with more options in funding their vehicle inventory. They are sure that it will create a synergy between their businesses and prove a benchmark in the banking and automobile industry.
Pic : Courtesy
Report : Anustup Kundu