MAN Trucks India inks MoU with Canara Bank

With the MoU, Canara Bank is now a preferred financier for MAN trucks in India.

By Autocar Professional Bureau

16 Sep 2015

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Jagadish Bhat, CMD, MAN Trucks India and R Madhusudan, GM (MSME Wing), Canara Bank, after the signing of the MoU.

MAN Trucks India has its production facility at Pithampur in Madhya Pradesh.

MAN Trucks India has signed a Memorandum of Understanding (MoU) with Canara Bank for offering commercial vehicle loans to its customers. With this, Canara Bank becomes a preferred financier for MAN Trucks in India.

The MOU was signed by Jagadish Bhat, chairman and managing director, MAN Trucks India and R Madhusudan, GM (MSME Wing), Canara Bank. Also present on the occasion were Somasundaram, National Sales Head, MAN Trucks India and C G Saha, DGM (MSME Wing), Canara Bank.

Canara Bank caters to around 6.75 crore customers through its all- India network of 5,708 branches, with 49 SME Sulabhs and 162 SME branches dedicated to the MSME sector.

MAN Trucks India, a fully owned subsidiary of MAN Truck & Bus AG, Germany, has its production facility at Pithampur, Madhya Pradesh. It has produced over 18,000 vehicles for domestic and international markets and has a dealership network of over 60 locations.