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Monday, October 17, 2011

HDFC Bank in financing pact with BharatBenz

Mumbai: BharatBenz, the exclusive truck brand that the world's largest truck-maker Daimler of Germany has rolled out for the domestic market, has inked an agreement with HDFC Bank for financing its commercial vehicles.

Through this arrangement HDFC Bank will provide suitable products for BharatBenz customers, the German company said in statement.

"Having chosen HDFC Bank as our preferred financier, this partnership is another big step as we move towards the market launch of our BharatBenz trucks. This alliance allows us to strengthen our presence as HDFC Bank has a wide network and complements in serving our prospective customers," Daimler India Commercial Vehicles (DIVC) Managing Director and Chief Executive Marc Llistosella said.

HDFC Bank Managing Director Aditya Puri said, "this relationship will help leverage the strengths of HDFC Bank and Daimler, thus opening up new avenues and allowing for a collaborative association."

DICV, a wholly-owned subsidiary of Daimler AG, will roll out trucks in 2012 from its manufacturing facility at Oragadam near Chennai.

Source: Financial Express


Property Types Melbourne said...

There are a few circumstances when advice like that would make sense, but the fact that the article didn't go into those contingencies makes me deeply leery. I hope that the article means that they'll get some contrary advice, just so they have a chance to go into all of this with their eyes open! That financial planner should have his head examined.

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