South Indian Bank signs MoU with M&M for dealer financing

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South Indian Bank (SIB) signed a memorandum of understanding with Mahindra and Mahindra Limited (Automotive Division) to provide agents with financing solutions.

Beji SS, Senior Managing Director and Head of Group Business, South Indian Bank, said: “This alliance reinforces our focus on the dealer financing business and we are confident that through our diversified financial solutions, we will be able to provide their merchants with comprehensive financing options. Our partnership will provide dealers with more options in financing their car inventory.

Baneswar Banerjee, Vice President Sales, Automotive Division, Mahindra & Mahindra said, “Our collaboration with South Indian Bank will provide our dealer network with the right inventory financing solutions. We are pleased to partner with SIB who carries a similar tradition as us of serving consumers in India with superior offerings. We look forward to working closely with SIB to improve our value chain delivery formulas and enhance our services. “