×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Siemens seeks nod for non-banking arm

Siemens seeks nod for non-banking arm
Comment E-mail Print Share
First Published: Thu, Mar 17 2011. 11 05 AM IST
Updated: Thu, Mar 17 2011. 11 05 AM IST
Mumbai: Power equipment maker Siemens Ltd, the Indian unit of Siemens AG, said its non-banking financial services arm has sought the Reserve Bank of India’s approval to start operations in the country.
The financial services firm will focus on asset financing business by offering loans, lease and hire purchases and look to provide financing to Siemens customers in India, it said in a press release late on Wednesday.
Sunil Kapoor has been appointed as the chief executive of this venture, it added.
Comment E-mail Print Share
First Published: Thu, Mar 17 2011. 11 05 AM IST
More Topics: Siemens AG | NBFC | Finance | Banking | Loans |