Hyundai Motor signs MoU with OBC

NEW DELHI: Hyundai Motor India Ltd. (HMIL) and Oriental Bank of Commerce, a leading public sector bank, have signed a Memorandum of Understanding (MoU) aimed at providing easy finance options for their respective customers. The MoU was signed by Arvind Saxena, Director, Marketing & Sales, HMIL and S.C. Das, Deputy General Manager- Marketing, Oriental Bank of Commerce on behalf of their respective organisations. Speaking on the occasion, Arvind Saxena, Director, Marketing and Sales, HMIL, noted, “We are pleased to announce this partnership with the Oriental Bank of Commerce, one of the prominent and leading banks in India. This association will help us to reach out to more customers with easy finance options to buy our cars. This association reiterates our commitment to provide our customers with a convenient finance option for buying our vehicles.” As part of the agreement, both HMIL dealers and the bank will utilise their respective customer databases for growing their car loan business. The tie-up is extended to cover financing options by all the branches of the bank in India. Both the partners will utilize and leverage each other’s strengths to sell Hyundai vehicles along with the bank’s car loans and schemes. It is to be mentioned that the Oriental Bank of Commerce (OBC) is one of the oldest banks in India with 1,573 branches and extension counters, 1,038 ATMs and more than 15,000 employees. The bank offers a host of services including cash management service, retail lending, internet banking and mobile banking.