GM India inks pact with SBI for auto finance

Car Maker General Motors India today said it has entered into an agreement with the country's largest public sector lender State Bank of India for auto financing.

Under the Memorandum of Understanding, the SBI will provide retail and wholesale financing to customers for purchasing General Motors (GM) India's vehicles, the car maker said in a statement.

"We are extremely pleased to partner with SBI. It being the largest public sector bank in the country, its extensive reach across India will help our customers to avail loan facilities to buy our products," GM India Vice-President (Sales, Marketing and After Sales) Ankush Arora said.

SBI has over 12,150 branches across the country.