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Maruti Signs MoU with Oriental Bank of Commerce

12 January, 2009

Oriental Bank of Commerce (OBC), a leading PSU bank in India, signs a memorandum of understanding (MOU) with Maruti Suzuki India Ltd. The partnership between the two is aimed at advertising car loan schemes offered by the OBC banks.

In accordance to the signed memorandum, all exclusive Maruti Suzuki car dealers will advertise the loan scheme of the bank amongst prospective car buyers. These dealers will also link them directly to the bank for hassle-free loan approval.

Both OBC and Maruti Suzuki takes this an opportunity to boost their business during this era of recession in the Indian car market as well as the global economy. The MoU was signed by Mr. R.S. Kalsi, Chief General Manager (Sales) of Maruti Suzuki and Mr A.K. Tangri, General Manager (RDRPSC) in presence of the Chairman and Managing Director, Mr. Alok K. Misra and the Executive Directors of the Bank, Mr. H. Rathnakara Hegde and Mr. S.C. Sinha.