Mahindra and Mahindra ties-up with Sharad Shakari Bank

The Indian automobile manufacturer, Mahindra and Mahindra, has joined hands with Sharad Shakari Bank, Manchar, by signing a preferred financier agreement. The Memorandum of Understanding (MOU) will facilitate Mahindra customers to avail for car loans and commercial vehicle finance from any of the branches of the bank.

The financial agreement was signed between Jacob Varghese, Senior General Manager, Sales, West Zone, Automotive Division, Mahindra & Mahindra Ltd, and Devendra Shah, Chairman, Sharad Shakari Bank. This tie-up will enable both M&M and Sharad Shakari Bank to leverage on the strengths of each other’s network. Mahindra & Mahindra has a network of over 28 dealer outlets and 85 branches respectively across Maharashtra, while Sharad Shakari Bank has 13 branches.

Speaking on the tie-up Varghese says, “At Mahindra, we relentlessly look at options to provide the best schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. Sharad Shakari Bank offers innovative products and services at affordable rates. With highly competitive schemes for car loans and commercial vehicles, we are hopeful of a good response from our dealers and customers”.

According to Shah, Sharad Shakari Bank is expanding its wings in commercial and passenger vehicle financing. Customers will benefit from this tie-up as they will have privileged access to the specialised services of M&M.