General Motors India signed MoU with PNB

General Motors India has signed a Memorandum of Understanding (MoU) with Punjab National Bank, to provide retail car financing to all General Motors India. From General Motors India the agreement was signed by Ankush Arora, vice-president, Sales, Marketing & After Sales, while from PNB's side Mr Sudeshna Sharma, general manager (Retail), signed the agreement.

Company is extremely pleased to partner with Punjab National Bank which is one the largest public sector bank in the country. Its extensive reach across India will help our customers avail of loan facilities to buy GM's most sought after products. Low interest rates in addition to low processing charges are some of the many benefits which company's customers can enjoy while availing of loan facilities of from PNB for financing of our vehicles, said Mr Ankush Arora.

According to this MoU, Punjab National Bank will be providing retail financing to the customers of GM India cars across the country. On the other hand GM India will promote schemes to offer easy finance options of PNB to their customers by leveraging the pan India presence of this PSU bank which has a network of over 4,900 branches across the country.

As Demand of GM's small car in India, Chevrolet Beat the company intends to take the network to 300 sales points and an equal number of authorized service outlets by the end of this year from the current 206 sales points and 200 authorized service outlets across the country.

GM India currently sales some of the most popular cars in India including Chevrolet Spark, Chevrolet Beat, Chevrolet Aveo, Chevrolet Optra Magnum and Chevrolet Cruze.