As part of its commitment to enhance customer support Caterpillar India Private Limited, subsidiary of NYSE listed Caterpillar Inc, has entered into agreements with its dealers in India and with key banks and Non Banking Financial Company's (NBFC's) that will give its customers in India new finance options for the purchase of Caterpillar machinery and power systems.
Caterpillar India and Indian Caterpillar dealers GMMCO and TIPL have entered into agreements with the banks like ICICI, HDFC Bank apart from NBFCs like Tata Capital Services and Magma to support the sale of the full range of Caterpillar products sold in India."We are very pleased to have facilitated Caterpillar India's alliances with these leading banks and NBFC’s in India,” said Kent Adams,vice president of Caterpillar Financial Services Corporation, Caterpillar. Caterpillar India and its dealers have signed memorandums of understanding with the banks whereby the Caterpillar dealers would apprise prospective Caterpillar customers about the financial solutions and loan advantages beingoffered by the preferred financiers to customers acquiring Caterpillar machinery and engines.This tie up will cover all eight dealer territories of Caterpillar India.With revenues of $32.396 billion in 2009, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines.
