OREANDA-NEWS. May 5, 2012. Central Bank of India signed a Memorandum of Understanding (MoU) with TVS Motor Company to provide finance for customers who intend to buy the latter's three-wheeler, TVS King. Under the agreement, Central Bank of India will offer customers attractive loans with easy repayment options, taking on the role of preferred financiers.

The MoU was executed by Dr. Ram S Sangapure, General Manager-Retail Banking, Central Bank of India and Mr. K. Srinivasan, Vice President, TVS Motor Company Limited in the presence of Mr. Mohan V Tanksale, Chairman and Managing Director, Central Bank of India. Mr. R.K. Dubey, Executive Director & Mrs. V.R. Iyer, Executive Director of Central Bank of India were also graced the occasion.

Mr. Mohan V Tanksale, CMD, Central Bank of India while welcoming the TVS Motors Limited for joining hands in Bank's endeavour to reach MSE segment said that we see this initiative as value addition for customers aspiring to be owners of a TVS King, as their installment payments will be low and the processing fee will be standard irrespective of the loan amount availed. Customers have easy access to the Bank as we have Pan India presence through a large network of more than 4000 branches. Our rich heritage of 100 years of banking ensures that our customers enjoy every moment of banking with us.

On signing the MoU in Mumbai, TVS Motor Company's Vice President Marketing, K Srinivasan said "This initiative will provide very attractive retail finance options to customers who wish to purchase a TVS King. TVS King is available in all leading markets across the country in Petrol, LPG and CNG versions with both two and four stroke engines. The product has been well received in all markets it has been launched in. This can be attributed to superior styling, riding comfort, powerful twin headlamps and more importantly the fuel efficient and high end low torque 200cc engine that it is equipped with".

Commenting on the development, Dr. Ram Sangapure, General Manager - Retail Banking, Central Bank of India said that this association will help both the partners to reach out to customers and make auto loans convenient and easy for prospective owners.