Federal Bank has tied up with Atul Auto of Rajkot for a dealer financing arrangement for three-wheelers. The tie-up The tie-up will benefit all the 200-plus dealers of the company spread across India. Under this arrangement, the bank will finance 100% of the invoice amount with nil margin to registered dealers of the company for purchases made from the company. The bank has similar arrangements with leading auto makers like Tata Motors, Mahindra & Mahindra and Ashok Leyland. Antu Joseph, GM (Products) of the bank and J/V/ Adhia, president, Finance, Atul Auto, signed the agreement in this regard. Joseph spoke of digital initiatives of the bank in general and the recently-launched FedBook Selfie in particular, through which one can instantly open a savings bank account using his smartphone by taking a selfie and scanning his Aadhaar and PAN card.
