South Indian Bank signs MoU with M&M for dealer finance
The partnership will provide dealers with more options in funding their vehicle inventory.
South Indian Bank has signed a Memorandum of Understanding (MoU) with Mahindra and Mahindra’s Automobile division for providing the latter’s dealers with financing solutions, thereby meeting their vehicle inventory funding requirements.
Biji S.S, Senior General Manager and Group Business Head, South Indian Bank, said, “This alliance augments our focus on dealer finance business and we are confident that through our diverse finance solutions, we will be able to provide their dealers with inclusive finance options. Our partnership will provide the dealers more options in funding their vehicle inventory.”
Baneswar Banerjee, Vice President - Sales, Automotive Division, Mahindra & Mahindra said, “Our association with South Indian Bank will provide our dealer network with suitable inventory financing solutions. We look forward to working closely with South Indian Bank to further improve our value chain delivery equations and enhance our services.”
The money will be used to provide necessary flood relief and support for the communities affected by the cyclone.
Ashok Leyland is one of the oldest corporates in Tamil Nadu.