BoB, GM India sign MoU for vehicle financing
By Vaibhav Aggarwal
Jan 21, 2009
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State-run, Bank of Baroda (BoB) has entered into an agreement with General Motors India for financing the latter's vehicles at wholesale as well as the retail levels.

The memorandum of understanding (MoU) inked between the two entities states that BoB will extend credit for purchasing GM India vehicles to both GM India dealers and customers directly buying from the outlets.

GM India President and Managing Director, Karl 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."

He further informed that GM India is planning to start various retail activities and roadshows across the country.

As per the agreement, both BoB and GM India would also assume joint promotions and offer schemes that would provide easy finance options to the people who plan to buy a GM vehicle.

The facility will be extended to the customers through more than 2,800 branches of BoB.


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