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Daimler India Commercial Vehicles signs MoU with Himachal Pradesh Gramin Bank as its preferred financier for commercial vehicles

BharatBenz customers to benefit from Himachal Pradesh Gramin Bank’s attractive finance options

Mandi (Himachal Pradesh), India: Daimler India Commercial Vehicles Pvt. Ltd. (DICV), the 100% wholly-owned subsidiary of Daimler AG, signed a Memorandum of Understanding (MoU) with the Himachal Pradesh Gramin Bank to provide commercial vehicle financing packages to BharatBenz customers across Himachal Pradesh.

Himachal Pradesh Gramin Bank will become a key financing partner for BharatBenz along with others adding substantial choice and value for customers. As part of the MoU, Himachal Pradesh Gramin Bank will evaluate the financial needs of the clients and develop appropriate financing packages to BharatBenz customers.

Himachal Pradesh Gramin Bank, sponsored by Punjab National Bank came into existence with the amalgamation of two RRBs, viz. Himachal Gramin Bank, Mandi (sponsored by Punjab National Bank) and Parvatiya Gramin Bank, Chamba (sponsored by State Bank of India) vide Government of India Notification dated 15th February 2013 under section 21 of the RRBs Act, 1976 with its Head Office at Mandi. The area of operation of the Bank is spread over to 12 districts of Himachal Pradesh.

The agreement was signed between Satish Kumar Chawla, Chairman, Himachal Pradesh Gramin Bank and Arghadip Roy, Assistant General Manager & National Head - Retail and DICV Corporate Communications Page 2 of 3 Channel Finance and T.D Jayakar, Senior Manager - Retail & Channel Finance from Daimler India Commercial Vehicles (DICV).

Announcing the partnership, Erich Nesselhauf, CEO and Managing Director, DICV, said, "Himachal Pradesh Gramin Bank as our preferred financier allows us to strengthen our presence in the state of Himachal Pradesh, which is a significant commercial vehicle market. We are confident that our customers will benefit from the viable finance options provided by the bank, and they can be assured of competitive financing solutions with tailor-made offerings for our BharatBenz trucks."

tish Kumar Chawla, Chairman, Himachal Pradesh Gramin Bank added, "We have a wide distribution network in the semi-urban and rural areas. Truck customers will be keen on trying this exciting truck brand, backed by the confidence of existing financier relations. This symbiotic relationship will help to leverage ours and DICV‟s strengths, thus opening up new avenues and allowing for a collaborative association."

Kristin Stegen (DICV),

+91 44 4599 6112 ,

Shina Satyapal (DICV),

+91 44 4599 6039 ,