Daimler AG gets RBI nod to set up non-banking finance company

MUMBAI: The RBI has given its approval to Germany's Daimler AG to set up a non-banking finance company, the company said in a statement on Monday.

Daimler Financial Services India Private Ltd will be a 100 percent subsidiary of Daimler and is expected to be operational in the third quarter of 2011, it said.

Source: EconomicTimes