SBI Backing for Mahindra Reva EV Firm

BANGALORE: State Bank of India has signed a memorandum of understanding (MoU) with Mahindra Reva Electric Vehicles Pvt Ltd for financing of their vehicles through a network of more than 13,800

Published: 24th January 2012 05:23 AM  |   Last Updated: 16th May 2012 06:21 PM   |  A+A-

BANGALORE: State Bank of India has signed a memorandum of understanding (MoU) with Mahindra Reva Electric Vehicles Pvt Ltd for financing of their vehicles through a network of more than 13,800 branches spread across the country.  

The MOU was signed by Rajeev Nandan Mehra, Chief General Manager, Personal Banking Business Unit, Corporate Centre, Mumbai  and R Chandramouli, Chief of Operations, Mahindra Reva Electric Vehicles Pvt Ltd.

Ashwini Mehra, Chief General Manager, Krishna Mohan Trivedi, General  Manager and H Subramaniam, Deputy General Manager from State Bank of India and Baneshwar Banerjee from Mahindra Reva Electric Vehicles Pvt Ltd were also present during the signing of the MoU.

The Mahindra Reva and State Bank of India have taken a series of  green initiatives. The latest one is the introduction of Green Channel Counters wherein customers do not fill any voucher for depositing or withdrawing cash, but use the ATM card for deposit or withdrawal of cash.

The State Bank of India also gives an interest concession of 0.25%  for green homes.                         

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