South Indian Bank (SIB) has signed an memorandum of understanding (MoU) with Mahindra and Mahindra Ltd (Automobile division) for providing the latter’s dealers with financing solutions.
Biji SS, 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 are happy to partner with SIB which carries a similar tradition like us in serving India’s consumers with superior offerings. We look forward to working closely with SIB to further improve our value chain delivery equations and enhance our services.”