BharatBenz has signed an MoU with HDFC Bank for CV financing

By Pradeep Yuvaraj | September 1, 2011

A recent press report said that BharatBenz, the exclusive truck brand for the Indian market by Daimler, world’s leading producer of Commercial Vehicles, signed a Memorandum of Understanding with the country’s no.1 auto loan player HDFC bank for financing its commercial vehicles.

According to the MoU HDFC Bank becomes the first preferred financier for BharatBenz Trucks in the country. Reports said that HDFC Bank will offer suitable products for BharatBenz customers. Mr. Ashok Khanna, Sr. Executive Vice President & Business Head, Vehicle Loans, HDFC Bank, and Hans Luedecke, General Manager, Retail Finance, DICV signed the MoU.

Mr. Marc Llistosella, Managing Director & CEO, Daimler India Commercial Vehicles (DICV), and Mr. Aditya Puri, Managing Director of HDFC Bank, were present at the signing of the agreement at HDFC Bank Headquarters in Mumbai.

HDFC is a pioneer and leader in housing finance in India, from its origin. It has supported more than 38 Lakhs customers to own a home of their own, through cumulative housing loan approvals. HDFC offers the widest range of home loan products and services to suit the unique requirements of its customers including Home Loans for properties anywhere across India, Home Improvement Loans, Home Extension Loans and Land Purchase Loans for Housing.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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