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Ford Credit India gets NBFC license

Ford Credit India has been granted a license by the Reserve Bank of India to operate as a nonbanking financial company in India. The company now plans to begin dealer wholesale inventory financing in the first quarter of 2015. Consumer retail financing will follow later in the year 2015. Mark Constable, MD, Ford Credit India, said the company has 55 years of global experience in automotive financing and through its full-service financing operation, it will leverage its experience and expertise in supporting Ford’s growth plans in India. Ford Credit India is a subsidiary of Ford Motor Credit Company, Ford Motor Company’s global financing subsidiary. Ford Credit provides a range of automotive financial products and services to about 5,200 Ford and Lincoln dealers and more than 3.8 million customers around the world.

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