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ICICI and IndoStar partner to finance commercial vehicles

Friday 5 July 2019 | 12:39 PM CET

ICICI Bank and IndoStar Capital Finance have joined forces to help underserved businesses in India buy new and used commercial vehicles.

The lending programme for small and medium fleet owners is the first of its kind between a bank and a non-banking finance company (NBFC) in India.

ICICI Bank will provide the funds for these customers, which currently have limited access to organised credit, while IndoStar will take care of the entire loan life cycle.

IndoStar will use its branch network in tier two, three and four cities – such as Coimbatore, Salem, Tirunelveli and more – to originate underserved customers.

More: Link
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