Mahindra and Mahindra Ltd, the No. 1 manufacturer of SUV's in India has signed a memorandum of understanding with Punjab Gramin Bank to enable customer's avail of financing during purchase of personal or commercial vehicles. Through this tie-up customers will be able to benefit from the vast network of outlets of both brands.
There are 180 branches of PGB and 16 dealerships of M&M spread across Punjab. Punjab Gramin bank was adjudged the best Rural Regional Bank (RRB) on the basis of financial parameters surveyed by NABARD in the year 2008-09.
Shri S. K. Goel, Chairman, Punjab Gramin Bank hoped that this initiative taken up by both brands will enable people avail of suitable loan policies with reasonable interest rates and margins. PGB offers simple and innovative funding policies with interest rates starting from 12%. This financial institution also provides upto 85% on road funding and a repayment facility of 84 months.
Image Caption: Standing Left to Right: Mr. S. K. Chawla, G. M. Credit, PGB, Mr. B. S. Sandha, Sr. Manager Credit, PGB, Mr. S. K. Goel, Chairman, PGB, Mr. Jyoti Malhotra, Sr. G.M Sales – North, Mahindra & Mahindra Ltd, Mr. Ratnesh Mishra, Deputy M.M.D, Mahindra & Mahindra Ltd. and Mr. V. K. Mutneja, G. M, PGB.
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