General Motors India has signed a Memorandum of Understanding (MOU), Bank of Baroda (BoB) to finance the sale of GM India vehicles both at wholesale and retail levels.
The agreement was signed by Ankush Arora, Vice President, Sales, Marketing and Aftersales, GM India and S.P. Agarwal, General Manager (SME), Bank of Baroda in the presence of Mr. Karl Slym, President & Managing Director, GM India and Mr. M.D Mallya, Chairman and Managing Director, Bank of Baroda, in Mumbai.
Slym said, "Considering the slowdown in the auto industry, this association with Bank of Baroda at this juncture is an attempt to ensure that we are able to reach out to our valued customers with easy, affordable and preferential finance options. This service initiative is another step from GM India aimed at strengthening our association with dealerships and customers nationally and to maximise our customer reach and satisfaction. With the agreement in place we plan to initiate various retail activities and road shows across the country to reach out to our valued customers."
As per the MOU, Bank of Baroda will now provide wholesale financing to GM India dealers and retail financing to customers for purchase of GM India vehicles across the country. Both, Bank of Baroda and GM India will undertake joint promotions and schemes to offer easy finance options to our valued customers through all branches of Bank of Baroda.
With a network of over 2,800 branches across the country, Bank of Baroda is one of the largest public sector banks in India. As one of the top ranking banks of international repute, it has been growing rapidly since its inception with 72 overseas branches in 22 countries covering 5 continents.
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