India: VW gets nod to set up non-banking finance co

The Reserve Bank of India (RBI) has granted the licence to Volkswagen group company Volkswagen Finance (VWFPL) to start its non-banking finance company (NBFC) in India. Mumbai, India-based VWFPL plans to make an initial investment of Rs1.2bn (US$26.84m) to launch its NBFC project in the country, Press Trust of India said. Subscribe to Automotive World … Continued

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• March 29, 2011