The Kolkata headquartered United Bank of India has entered into collaboration with Hindustan Motors (HM) to provide vehicle loans to the buyers of taxis. According to the tie up, the bank will provide the customers of Hindustan Motors collateral free loans plus other preferential conditions on commercial auto loans.
Hindustan Motors issued a statement on the tie up stating that no security will be required on loans of up to Rs. 10 lakh. It also said that the collaboration is expected to benefit the buyers of Kolkata's golden yellow taxi the most apart from benefitting the customers of Hindustan Motors nationwide.