RBI Grants Volkswagen Finance NBFC License

The Reserve Bank of India (RBI) has granted Volkswagen Finance a Non-Banking Finance Company (NBFC) licence enabling it to make its first offering to the Indian market through 3 product lines – VW Finance, Skoda Finance, Audi Finance. Audi, Skoda and Volkswagen customers can avail of financing options at any of the 164 dealer outlets. With an initial investment of over $24 million in India, the Volkswagen Finance arm is headquartered in Mumbai and will enable the company to offer bundled 3 in 1 packages consisting of financing, insurance and maintenance. Globally, Volkswagen Financial Services provides financial services in 38 countries across all its brands.