Processing .....please wait.. 
The article has been forwarded.... 
Volkswagen to invest 
120 Crore in India
Tuesday, 29 March 2011, 07:22 IST
120 crore to launch its non-banking financial arm in India.
The firm said its group company Volkswagen Finance Private Ltd (VWFPL) has received licence from the Reserve Bank of India to start its Non-Banking Finance Company (NBFC).
"VWFPL has been granted an NBFC licence by the Reserve Bank of India, enabling it to make its first offering to the Indian market with three product lines -- VW Finance, Skoda Finance, Audi Finance," the company said in a statement.
Customers can avail of financing options at any of the 164 dealer outlets of group brands -- Audi, Skoda and Volkswagen, it added.
Headquartered in Mumbai, VWFPL is making an initial investment of over $24 million (around Rs 120 crore) in India, the statement added.
Source: PTI