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    Default Indian Bank signs MOU with HMIL

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    Indian Bank has entered into a Memorandum of Understanding (MOU) with Hyundai Motors India Limited (HMIL), manufacturer of Hyundai cars for a preferred financial arrangement to operate under the Brand name of 'Indian Bank-Hyundai Finance' towards generation of car loan business through HMIL dealers in the country.



    The MOU signed today and valid for a period of two years, provides for collaboration in generating car loan business in the country among the clients of the two organisations.

    While the primary point of sales would be HMIL dealers in the country, Indian Bank would extend as a preferred financier, car loans on attractive terms. All branches of Indian Bank in the country have been authorised to extend car loans under the Indian Bank-Hyundai Finance brand name.

    The MOU was signed by Mr V A Somayajulu, General Manger, on behalf of the Bank and Mr R Sethuraman, Vice-President (Finance and Corporate Affairs) on behalf of HMIL.



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