German luxury car and commercial vehicle maker Daimler has received approval from the Reserve Bank of India to setup a “Non-Banking Finance Company” for its financial services business in India. The newly founded Indian company, Daimler Financial Services India Private Limited, will be a 100 percent subsidiary of Daimler AG and is expected to be operational in the 3rd quarter 2011.
25 Apr 2011 | 2985 Views | By Autocar Pro News Desk
Daimler AG’s move to offer financial services in India completes the entry of the German luxury car maker trio into the vehicle finance business. BMW started its financial services arm in October last year, followed by Audi (VW Financial Services) in March ’11.
“With business activities in over 40 countries, ...
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