Toyota Kirloskar Motor (TKM) Signs MoU with State Bank of India
Toyota Kirloskar Motor Pvt. Ltd (TKM) has signed a MoU with the State Bank of India to provide auto retail financing to their prospective customers. The State Bank of India will be one of the preferred financiers for the entire range of vehicles marketed by Toyota Kirloskar Motor Private Limited (TKM) in India.
Tweet-- Toyota Kirloskar Motor Pvt. Ltd (TKM) has signed a MoU with the State Bank of India to provide auto retail financing to their prospective customers. The State Bank of India will be one of the preferred financiers for the entire range of vehicles marketed by Toyota Kirloskar Motor Private Limited (TKM) in India.
The agreement was signed by Mr. Sandeep Singh, DMD of Toyota Kirloskar Motor Private Limited (TKM), and Mr. P. Nanda Kumaran, Chief General Manager, State Bank of India Personal Banking Business Unit in Mumbai in the presence of Mr. Anup Banerji, DMD & Group Executive (NBG) of SBI and Mr. H. Nakagawa, Managing Director of TKM. Among those present on the occasion were the officials of both SBI and Toyota Kirloskar Motor Private Limited (TKM).
The MOU aims at targeting high end customers who will be availing car loans from SBI above Rs. 5 lacs onwards. SBI has come out with a special scheme called SBI Advantage Car Loan Scheme for this niche segment. This scheme is applicable to individuals - Salaried, Professionals, Self employed, Businessmen and Proprietary /Partnership firms, who are income tax assesses and whose income/net profit or gross taxable income is Rs.2.50 lac and above. This scheme will be implemented in all RACPCs, all PBBs, all District Head Quarter Branches, Project area branches and Branches specially authorised by AGM (Region). Maximum loan amount will be 48 times of NMI or 4 times of NAI.
For details, please refer to http://www.toyotabharat.com/
Company name
Toyota Kirloskar Motor Private Limited
Location
Outskirts of Bangalore, Karnataka State
Establishment
October 1997 (start of production: December 1999)
Managing Director
Mr. Hiroshi Nakagawa
Equity participation
TMC: 89%, Kirloskar Group: 11%
Land area
Approx. 432 acres (approx. 1,744,848 m2)
Annual production capacity
Approx. 80,000 units
Products
Corolla Altis, Innova, Fortuner manufactured in India. Camry, Prado, Land Cruiser imported as CBUs.
2009 production results
51, 133 units
Number of employees
Approx. 3600 (as of December 2009)