Abhudaya bank stitches a deal with Mahindra

India’s leading automobile company Mahindra and Mahindra has stitched a financial deal with Abhudaya cooperative bank to enable customers to avail themselves of car loans and other financial services from the bank.

The deal was signed by GM Automotive Division Mahindra and Mahindra and V.S.Morye chairman Abhudaya cooperative bank.

Sources say this is for the first time ever that a car making company has entered into such a financial arrangement with a urban cooperative bank.

Mr. Morye has described the deal as historic and hoped the tie up would give customers in Maharashtra privileged access to the specialized services of the auto company.