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Hindustan Motors Ties Up With United Bank Of India

By Motortrend India Staff   |   22 September,2012

Kolkata based Hindustan Motors Limited (HM), country’s pioneering automobile manufacturer and the flagship venture of CK Birla Group, inked a contract with United Bank of India (UBI), India’s leading nationalized bank, so as to avail easy and hassle-free financing facilities for its customers.

According to the MoU inked by HM’s Uttarpara unit Financial Controller, Mr. Dibyendu Chatterjee, and UBI’s General Manager, Mr. Debashish Mukherjee, the HM customers will be able to avail collateral free loan up to Rs. 10 lacs, retail finance support with just 10 per cent buyer margin payment and other profitable services from over 1690 UBI branches countrywide.

Although all Hindustan Motors Ltd. customers will benefit out of this deal, this contract is likely to be of greater assistance to Kolkata’s golden yellow taxi business segment.

Apart from the head honchos, the occasion was graced by other eminent figures including HM’s Managing Director & CEO, Mr. Uttam Bose, UBI’s CMD, Mr. Bhaskar Sen, UBI’s Executive Directors Mr. Deepak Narang and Mr. Sanjay Arya, HM’s COO & SBU Head (Uttarpara & Pithampur), Mr. Ramesh Vishwakarma, senior functionaries of both the organizations and a few HM dealers.

Talking on the occasion, HM’s MD, Mr. Uttam Bose, said, “The retail financing tie-up with United Bank of India is yet another evidence of HM’s customer-centric approach to business. This association will help us reach out to a wider customer base with speedier, smoother and competitive finance options provided by UBI. Belonging to the elite group of oldest business institutions headquartered in Kolkata, HM and UBI, in a way, share a common lineage. We strongly feel that the deal will be mutually beneficial and help us scale new heights by leveraging each other’s strengths.”

Mr. Bhaskar Sen, the CMD of United Bank of India, said, “Our bank’s ties with Hindustan Motors date back to 1968. We have been together in both good and bad times. I expect this MoU to further strengthen our relationship. I look forward to more such opportunities to engage with HM. That will help both the organizations.”

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