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Automotive Product Finder Magazine | YES Bank and MG Motor ink MoU in India
YES Bank and MG Motor ink MoU in India
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YES Bank has signed a Memorandum of Understanding (MoU) with British automotive company MG Motor, to enter into a strategic financing partnership. MG Motor is set to enter Indian market by the middle of 2019 with the SUV Hector. The benefits of this partnership will be extended to the entire auto value chain – auto dealers as well as customers, covering multiple car models offered by MG Motor India.
“We are proud to partner with MG Motor India and offer their dealers and customers suitable financing packages, further aiding MG Motor India’s market penetration. Powered by YES Bank’s knowledge and technology banking, we remain committed to providing services to our clients and helping them achieve their objectives,” said Rajan Pental, Group President and Head, Branch and Retail Banking, YES Bank.
Through the partnership, YES Bank will be able to provide end-to-end financial solutions to MG Motor India. The bank will offer financing and banking solutions to both the MG Motor dealers as well as the end consumers. The bank will work towards evaluating the finance needs of customers and develop appropriate financing packages.
“Through this partnership, MG Motor India will offer inventory funding and access to credit solutions to dealerships, and term loans to end-customers. We also aim to create tailor-made finance packages to meet the requirements of various consumer demographics,” said Gaurav Gupta, Chief Commercial Officer, MG Motor India.
YES Bank And MG Motor
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