AN INDIAN hire-purchase company has been lent IND Rupees 840, (US$17 million), by the World Bank's International Finance Corporation, so it can widen the financial services it offers India's rural and semi-urban communities, notably to sell insurance policies. Mahindra & Mahindra Financial Services Ltd (MMFSL) already provides equipment on HP (such as tractors) to customers from more than 150 outlets. Mahindra Managing Director Ramesh Iyer said earlier this year that with this branch network (covering nearly 82 per cent of India's ...

Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.