International Cars, UCO Bank join hands for vehicle finance

NEW DELHI: International Cars & Motors today said it has inked an agreement with public sector lender UCO Bank to provide funding to the company's multi purpose vehicle customers across the country.

Besides, the UCO Bank will fund all upcoming models and variants of ICML which are expected to roll out in the current fiscal, International Cars & Motors Ltd (ICML) said in a statement.

ICML is a part of the Rs 5,000 crore Sonalika Group. "It would greatly benefit the end customers of ICML as they will have more funds at their disposal to buy ICML products by getting the same financed from UCO Bank," ICML General Manager (Marketing) Ramesh Ramsinghaney said.

This is the third Memorandum of Understanding (MoU) within this financial year and with this new association, this would be an advantageous situation for both UCO Bank and ICML, he added.

"This alliance will benefit the customers through trouble-free and prompt procedures of funding put in place by UCO Bank specially for ICML retail customers for its MPV called 'Extreme'," UCO Bank Deputy General Manager PK Sharma said.