Bajaj Auto Ltd.

Bajaj Auto has signed a memorandum of understanding (MOU) with Dena Bank whereby the bank will finance three wheelers manufactured by the auto firm.

The borrowers who are eligible on merits for purchase of three wheeler passenger auto rickshaws will be provided loan up to 90 percent of the cost of vehicle on road at a very attractive rate of interest.

This MOU will help the bank to increase its finance to priority sector advances. The bank will also achieve the social objective to provide collateral free loan to micro and small entrepreneurs throughout the country.

Bajaj Auto has pan India presence and will increase its market share especially in the states of Gujarat and Maharashtra where Dena Bank is having very strong presence.