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Press Release

DICV signs MoU with State Bank of Bikaner and Jaipur for financing solutions

Aug 26, 2015

BharatBenz customers to benefit from State Bank of Bikaner and Jaipur’s suitable financial options

Jaipur, India, August 26, 2015 –: Daimler India Commercial Vehicles Pvt. Ltd. (DICV) the 100% wholly-owned subsidiary of Daimler AG today signed a Memorandum of Understanding with State Bank of Bikaner and Jaipur (SBBJ) to provide commercial vehicle financing packages to BharatBenz customers across the country.

SBBJ is the largest Bank of Rajasthan having its Head Office at Jaipur and have more than 1200 branches which cover most key business centers across Pan-India. Apart from Daimler’s own captive financing brand, BharatBenz Financial, SBBJ becomes a key financing partner for BharatBenz along with others adding substantial choice and value for customers.

The agreement was signed by Mr. Rakesh Kaushal, Deputy General Manager (MSME), State Bank of Bikaner and Jaipur and Mr. Arghadip Roy, Deputy General Manager and National Head- Retail and Channel Finance, Daimler India Commercial Vehicles Private Ltd. (DICV) and Mr. Amit Bhatia, Senior Manager, Retail Finance North of DICV.

Announcing the partnership, Mr. Erich Nesselhauf, CEO and Managing Director, DICV, said, "State Bank of Bikaner and Jaipur as our preferred financier allows us to strengthen our presence in the state of Rajasthan, which is a significant commercial vehicle market. This partnership will help our Rajasthan dealers leverage on the bank’s support with joint activities to promote BharatBenz products in this market. We are confident that our customers will benefit from the viable finance options provided by SBBJ, and they can be assured of competitive financing solutions with tailor-made offerings for our BharatBenz trucks."

Mr. Ramesh Arya, General Manager (MSME), State Bank of Bikaner and Jaipur added, "We have a strong hold over Rajasthan; our wide branch network will help in reaching out to the semi-urban and rural areas of the state for commercial vehicle financing. Truck customers will be keen on trying this exciting truck brand, backed by the confidence of existing financier relations. This symbiotic relationship will help to leverage SBBJ’s and DICV’s strengths, thus opening up new avenues and allowing for a collaborative association."

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