Mahindra signs MoU with Canara Bank

Mahindra & Mahindra entered into a preferred financier tie-up with Canara Bank today. The MoU was signed by Arun Malhotra, Chief Sales & Customer Care Officer, Automotive Division, Mahindra & Mahindra Ltd. and R. R. Sharma, Chief General Manager, Canara Bank.

The Memorandum of Understanding (MoU) will enable Mahindra customers to avail of a car loan from any of the 4,600+ branches of the bank. The tie-up will enable both M&M Ltd. and Canara Bank to leverage on each other's vast pan-India network of 4600 branches and 250 dealers, respectively.

Speaking on the tie-up Arun Malhotra said, "At Mahindra, we relentlessly look at options to provide the best finance schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. Canara Bank offers innovative products and services at affordable rates. With highly competitive schemes for car loans, we are hopeful of a good response from our dealers and customers".