- Will provide finance solutions to Mahindradealers

- Recently surpassed the 9 lakh production units milestone for the Scorpio

South Indian Bank signed a Memorandum of Understanding (MOU) with Mahindra on Wednesday for providing the latter’s dealers with financing solutions. Under this alliance, the bank will provide Mahindra dealers with finance solutions, thereby meeting their vehicle inventory funding requirements.

Official statement on the partnership

Speaking on the partnership, Baneswar Banerjee, Vice President, Sales, Automotive Division, Mahindra & Mahindra Ltd., said, “Our association with South Indian Bank will provide our dealer network with suitable inventory financing solutions. We are happy to partner with SIB which carries a similar tradition to us in serving India’s consumers with superior offerings. We look forward to working closely with SIB to further improve our value chain delivery equations and enhance our services.”

Mahindra Scorpioachieves 9 lakh units production milestone

In other news, the brand’s top-selling SUV, the Mahindra Scorpio surpassed the 9 lakh production units milestone. The automaker originally introduced the Scorpio back in 2002, and approximately after 11 years of its presence in the Indian market, this milestone was achieved. Currently, Mahindra retails the Scorpio range in two avatars – the Scorpio N and the Scorpio Classic.