Volkswagen to start non banking financial arm in India

     German auto conglomerate Volkswagen will invest Rs. 120 Crore to start its non banking financial arm in India. The company's finance arm Volkswagen Finance Pvt Ltd. (VWFPL) has received licence from Reseve Bank of India to start its Non Banking Financial Company (NBFC).

Company statement -
"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,"

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