New Delhi, 10 July, 2006 - GE Money, the consumer finance unit of the General Electric Company (GE), today announced an increase in its benchmark floating reference rate by 0.75% with effect from Saturday, July 1, 2006.
This increase in the benchmark floating reference rate is on account of changed financial market parameters with respect to borrowing costs.
GE Money India is part of GE Consumer Finance, a unit of General Electric Company and a leading global provider of banking and financial services to consumers, retailers, and auto dealers in 47 countries around the world. GE Consumer Finance has more than 118 million customers and more than US$151 billion in assets.
GE Money is one of the leading providers of financial services to consumers and retailers in India, offering a range of innovative financial products to suit its customers needs. It has a strong retail distribution network in over 5,500 outlets across 70 locations and is a leader in a wide range of products including car finance, two wheeler finance, consumer durable finance, personal loans and loan against property and home loans. Strong operations backed by the latest information technology support the product lines. Its CRM program is among the most successful customer retention programs in India and a single database housing nearly 2.6 million customer accounts, latest technology and centralized operations ensure the best service standards in the industry. With strong joint venture partners in Maruti and State Bank of India with 2.53 million cardholders, GE Money continues to add value to its customers and partners in India.
Purnima SahniMohanty
GE Corporate Manager - Communications
[email protected]
+91-11-41555303