 Canara Bank holds Pensioners' Utsav
BANGALORE, Nov 30:
Canara Bank, a leading nationalised Bank, organised "Pensioners' Utsav" at the Jnanajyothi Auditorium, Palace Road, here on Monday to focus pension customers of the Bank.
The Utsav was inaugurated by Retd. Justice N Santosh Hegde, former Lok Ayuktha of Karnataka by lighting the lamp.
Present on the occasion were Mr R K Dubey, Chairman & Managing Director of Canara Bank, Padmashri Prof. K S Nisar Ahmed, Mr Ravindra Bhandary, General Manager of Bank's Bangalore Metro Circle Office and Mr B N S Ratnakar, Chief Customer Service Officer of the Bank.
 Canara Bank, NSDC sign MoU
NEW DELHI, Nov 26:
Canara Bank, a leading nationalised Bank, has entered into MOU with National Skill Development Corporation, New Delhi for financing the students undergoing training at the affiliate institutions of the NSDC under the Banks’ Vocational Education Loan scheme.
The MOU was signed by Mr S S Bhat, General Manager, Canara Bank Head Office, and Mr Atul Bhatnagar, Chief Operating Officer, NSDC here on Thursday.
Talks on global free-trade deal collapse in Geneva
GENEVA, Nov 27: Negotiators came close but failed on Wednesday to clinch a free-trade deal that could have helped boost the world economy by USD 1 trillion a year and cleared the way for a broader global agreement.
Diplomats from the World Trade Organisation's 159 members had been trying to forge an agreement before a trade ministers' meeting next week in Bali, Indonesia.
Achieving a deal in Bali is seen as a final effort to revive a broader 12-year effort to ease global trade rules.
The mini-deal discussed in Geneva had been intended, in part, to reduce delays and inefficiencies at national borders.
Making it easier to move goods across borders could boost the global economy by nearly USD 1 trillion a year and support 21 million jobs, according to a report co-written by Jeffrey Schott, a senior fellow in international trade at the Peterson Institute for International Economics.
The lack of a global deal hasn't prevented individual countries from seeking agreements among themselves. But experts say the failure to reach a global deal leaves poorer countries worse off.
"This should be a no-brainer for developed and developing countries," Schott said.
Deputy US Trade Representative Michael Punke expressed "a great deal of sadness" over the failure in Geneva.
"We're worried alongside so many in this room that a once-in-a-generation opportunity may have slipped our grasp," Punke said.
Schott said he's hopeful that negotiators will salvage the deal in Bali and restore the efforts to achieve a broader trade agreement.
"If this small test can't be passed, there's very little reason for confidence" negotiators will ever reach the broader agreement, Schott said.
Some poor countries are demanding economic and technical assistance before they sign on.
India is holding up a deal by insisting on protections for its farmers.
The WTO chief, Roberto Azevedo, said so much disagreement remains that several more weeks of negotiations cannot bridge the gaps.
"Holding negotiations in the short time we'll have in Bali would be simply impractical with over 100 ministers around the table," Azevedo said.
Moily: Canara Bank empowering rural citizens
By Deepak Arora
 CHICKBALLAPUR, Nov 24: While applauding the various activities undertaken by Canara Bank towards the overall development of the society at large, the Union Minister for Petroleum and Natural Gases, Mr M Veerappa Moily, said that Canara Bank has undertaken various activities towards empowerment of every rural citizen financially eventually leading to a happy and contented life.
Inaugurating a mammoth Education and Rural Mahotsav held in the premises of Canara Bank Self-employment Training Institute for Rural Industries here on Sunday, Mr Moily also gave away some of the educational and auto loans to the beneficiaries.
A large number of dignitaries graced the occasion. These included Mr Ramalinga Reddy, Karnataka Minister of Transport, Mr Dinesh Gundu Rao, Karnataka Minister of State (Independent Charge), Food & Civil Supplies, Mr R.K. Dubey, Chairman and Managing Director of Canara Bank, Mr A.K. Gupta, Executive Director, Canara Bank, Mr Shivashankara Reddy, Deputy Speaker. Dr. K. Sudhakar, MLA, Chickballapur presided over the function.
Mr R K Dubey said the strength and welfare of a society/ country is gauged by the economic status of every individual and not by the riches of a few people here and there. And this is the founding principle of our founder Ammebal Subba Rao Pai, a great Educationalist and a Social Reformer.
In this direction, he said Canara Bank organized the Education and Rural Mahotsav to bring the rank and file of Chickballapur populace under the Financial & Banking System.
On this occasion, bank sanctioned 11,108 Educational Loans covering every steam of knowledge like ITI, Polytechnic and Degree courses, aggregating to Rs 75 crores.
Our bank is an ardent believer that an educated society is a happy society and as such the bank has been a pioneer in sanctioning educational loans which amounts to Rs.52,000 crores covering 23 lac beneficiaries, said Mr Dubey.
Keeping in mind the inadequate transportation facilities in rural areas, the bank distributed 200 Passenger Auto Loans amounting to Rs 3.50 crores.
This initiative also generates an equal number of self-employment opportunities, besides easing the commuting facilities in the remotely located rural areas.
On this occasion, the guidance of Union Minister Moily and contribution by ONGC was well remembered.
In this Mahotsav, bank sanctioned Rs 10 crores to 500 SHGs to further strengthen them financially for pursuing economic activities.
The CSR of Canara Bank is again visible on the occasion, when the bank donated a Dialysis Unit costing Rs.10 lacs to the Government Hospital, Chickballapur. This facility enables the under-privileged and poor kidney patients to avail the facility at a reasonable cost. Bank also donated a three wheeler to a physically challenged woman on this occasion.
The other major activities undertaken were…
@ 10000 In-built Overdraft facility to rural mass totaling to Rs.5.00 crores
@ Inclusion of 5000 persons under National Pension Scheme –Swavalamban
@ 5000 beneficiaries were brought under the umbrella of Micro Insurance
@ Ajjavara village in Chickballapur District was adopted by the bank for all round
development
@ Inauguration of E-Lounge facility at our Devanahalli branch
@ Opening of a branch at Doddabele village in Nelamangala Taluk
A large gathering of Legislators of Chickballapur, Bangalore Rural and Bangalore Urban, leading personalities, Top Executives and staff of Canara Bank, customers and well wishers of the bank were present on the occasion.
India emerges most attractive investment destination: EY
NEW DELHI, Nov 25: With relaxation in FDI norms to boost investor sentiments, India has emerged as the most attractive investment destination surpassing neighbouring China and the US, says a report.
The global survey of leading consultancy firm EY has ranked India as the most attractive investment destination followed by Brazil and China at second and third positions, respectively.
While Canada has cornered fourth spot, the US is placed at fifth position. Other nations in the top ten are South Africa (6), Vietnam (7), Myanmar (8), Mexico (9) and Indonesia (10).
"With sharp currency depreciation and opening up of FDI in various sectors, India has become an attractive destination for foreign investors," EY, earlier known as Ernst & Young, said.
In August, the government announced relaxation in Foreign Direct Investment (FDI) norms in many sectors, including multi-brand retail and telecom.
According to the global consultancy firm, due to the present macro-economic pressures and heavy debt pile, several Indian companies are looking to divest non-core businesses.
"This has created a large opportunity for foreign players vying for a greater role in the Indian market," it added.
When it comes to investments, the US, France and Japan have emerged as "top three investors likely to invest in India".
The findings are a part of EY's latest Capital Confidence Barometer report, based on a survey of about 1,600 senior executives from large companies across 70 countries.
It aims to gauge corporate confidence in the economic outlook and understand boardroom priorities, among others.
With respect to India, sectors with the highest level of anticipated deal-making include automotive, technology, life sciences and consumer products.
About 38 percent of the respondents felt that M&A volumes in India are expected to improve over the next 12 months.
"Indian companies also reflect a concerted focus on job creation as well as optimising operations to deliver cost reduction," the report said.
Amit Khandelwal, who is National Leader & Partner (Transaction Advisory Services) at EY, said the investor outlook for India remains positive, despite the challenges the country's economy has faced in the recent past.
On the other hand, the report said that Indian corporate entities have started looking at developed markets for making acquisitions.
"After two years, European countries (UK and Germany) have made a comeback on the potential investment destinations list for Indian companies," it added.
Canara Bank opens new branch, ATM in Periyapatna
 PERIYAPATNA, Nov 25: Canara Bank, a leading Public Sector Bank of the Country opened a new branch and an ATM at Periyapatna, Mysore District on Monday. With this number of Branches in its Mysore Circle has gone up to 135 and as many as 73 ATMs.
Mr A H Vishwanath, Member of Parliament, inaugurated the new Branch.
Speaking on the occasion, Mr Vishwanath said that, opening of another commercial Bank branch was much needed there at Periyapatna and Canara Bank, which is one of the premier Bank in the country had responded to this requirement.
Offering his tribute to the Founder Sri Ammembala Subbarao Pai, Mr Vishwanath said that, tobacco growers in this region do require good Banking services and requested Bank official to have sympathetic approach towards their genuine requirements.
Dr. S T Ramachandra, Deputy General Manager, Canara Bank, Circle Office Mysore, said that, Canara Bank today has maintained lowest Base Rate in the country for loan products, specially for farming, retail & MSE segments.
He solicited co-operation of every individuals for successful functioning of this new Branch.
Dr. Vasanth Kumar, Agriculture Scientist, who has also won Rajyotsava award this
year, inaugurated the new ATM and said that, scientific research in farming sector is not reaching the farmers and hence they stick to the old traditional farming.
He called upon the farming community to adopt latest intensive cropping pattern and also requested Bank’s to finance higher quantum of loan to farmers to embrace this latest cultivation technologies.
On this occasion, Mr P Y Mallesh, landlord of new premises was honored. Mr Divakar
Shetty, Asst. General Manager made welcome speech and Mr H Amamarnth, Branch Manager proposed vote of thanks.
Iffco pitches for urea decontrol
 NEW DELHI, Nov 19: IFFCO, India's largest fertiliser firm, has termed as unsustainable the move to remove guaranteed purchase of most of urea manufactured by new plants, in the new Urea policy.
Fertiliser Ministry had moved a proposal to CCEA for replacing the guaranteed buyback clause from the policy with a bidding process where government will buy crop nutrient from producers offering the lowest price.
"You cannot have investment policy based on pricing policy. Investment policy should be based investment," according to Dr U S Awasthi, Managing Director of Indian Farmers Fertiliser Cooperative (IFFCO).
IFFCO was also one of the companies which had applied under the present policy, for the brownfield expansion at its Kalol plant in Gujarat.
The guaranteed buyback clause had led to flood of applications from companies for expansion of plants.
The government however needed only 4-5 plants to meet the urea requirement.
Dr Awasthi said he had also given a suggestion to decontrol urea and provide fertiliser subsidy directly to farmers saying this is the only solution of fertiliser industry problems.
"If there is no guaranteed buy back clause then why businessmen will invest money, see you have to have a policy which is sustainable this policy is not sustainable," he said.
However, the proposal to amend the policy was supposed to be taken up in the CCEA meeting on November 13, but was dropped at the last moment.
Urea production in the country is stagnant at 22 million tonnes and the gap of 8 million tonnes is met through imports.
The policy was formulated with the purpose of substituting the imports by raising domestic output of urea.
The policy had guaranteed buyback of urea for eight years from start of production.
Government controls urea sector and has fixed the maximum retail price at Rs 5,360 per tonne.
Difference between maximum retail price and production cost is reimbursed as subsidy to fertiliser companies.
The Ministry wants to put in place transparent and objective criteria for giving approval to the proposals received so that only as much capacity is added as is required to meet the demand-supply gap.
Canara Bank celebrates Founder's Day
By Deepak Arora
 BANGALORE, Nov 19: Canara Bank celebrated its Founder's Day on Tuesday. Karnataka Chief Minister Mr Siddaramaiah inaugurated the mega event in the august presence of Mr K H Muniyappa, Union Minister of State for MSME (Independent Charge), who was the Chief Guest of the function. Other eminent personalities present on the occasion were Canara Bank's Chairman and Managing Director, Mr R K Dubey, Executive Directors of the Bank -- Mr Ashok Kumar Gupta, Mr V S Krishna Kumar and Mr P S Rawat and attended by a host of dignitaries, members of the Bank’s Board, fellow bankers, valued customers at the grand function held here.
Canara Bank was founded on July 1, 1906 by the great visionary late Ammembal Subba Rao Pai, at Mangalore, Karnataka. This year the Bank is in its 108th year of its glorious service to the banking industry. Today, the November 19 is the Bank’s Founder’s Day - the birth anniversary of its founder Ammembal Subba Rao Pai.
While paying homage to the Bank’s founder, the Chief Minister, Mr Siddaramaiah, complimented the Bank’s all-round progress made in various fields and in furthering national priorities. Mr K H Muniyappa appreciated the services of the Bank and wished alround progress in its endeavour to service the common man.
On this historic occasion, the Chairman and Managing Director, Mr R K Dubey, while delivering welcome address said Canara Bank is now a strongly capitalized bank among PSU banks to sustain high business growth ahead. As at September 2013, total business of the Bank has crossed Rs 6.73 lakh crore. The Bank has met all mandated national priorities targets, including agriculture, weaker section and minority communalities.
Mr Dubey said the Bank has adopted a holistic approach to financial inclusion by not only mobilizing no-frill accounts, sanctioning small credit and providing micro-insurance, but also has covered non-financial supports like Aadhaar enrollment and financial literacy and credit counseling activities.
With a focus on expanding operation, the Bank during the current financial year so far has opened 692 branches, taking the total number branches to 4444, including 5 overseas branches one each in London, Leicester, Hong Kong, Shanghai and Manama, the 5th overseas branch opened during September 2011.
Under the ATM network, the Bank has so far opened 452 ATMs during the year taking the total ATM strength to 4209, covering 920 centres. The Bank serves a cross-section clientele base of over 4 crore.
The programme also featured the renowned music celebraties Shiva Mani and Alka Yagnik, whose melodies enthralled the audience.
Vote of thanks was proposed by Mr Ashok Kumar Gupta, Executive Director of the Bank.
PM inaugurates Bharatiya Mahila Bank
 MUMBAI, Nov 19: The UPA government launched the country's first all-women bank, Bharatiya Mahila Bank, here on Tuesday. Inaugurating the bank on the birth anniversary of former prime minister, the late Indira Gandhi, Prime Minister Manmohan Singh said the bank will enable financial inclusion of women and benefit women of lesser-privileged segments of society.
Bharatiya Mahila Bank (BMB) has started operations with seven branches, including in Kolkata, Chennai and Guwahati.
Speaking at the function, finance minister P Chidambaram said the bank is expected to have a branch in every state capital by March 2014. He said the government has asked the Reserve Bank of India to provide regulatory forbearance on opening of branches in the first year. RBI has mandated banks to open one rural branch for every three branches opened in urban areas.
Usha Ananthasubramanian, chairman and managing director of BMB, said the bank will offer 4.5% interest on savings bank account for deposits up to Rs 1 lakh and 5% for deposits above Rs 1 lakh.
She said the bank, which has a paid-up capital of Rs 1,000 crore, is targeting business mix ofRs 60,000 crore by 2020 and will look at listing only after it has reached a critical mass. She said that the bank will develop product to suit women, although it will cater to men customers as well.
Speaking at the launch, UPA chairperson Sonia Gandhi said BMB will serve as a catalyst for greater gender equality and gender justice.
"Employees should be kind and supportive to young girls, show extra compassion for the poor and under-privileged who are among those that banking sector has left untouched," she said.
Canara Bank signs MOU with TVS Motors for Auto rickshaws
 BANGALORE, Nov 19: Canara Bank, a leading nationalized Bank, has entered into Memorandum of Understanding with M/s TVS Motor Company Ltd, a leading Public Sector Company, manufacturer of Two wheelers and Three Wheelers.
The MoU will facilitate the Bank’s MSE Services sector customers to purchase TVS Motors Ltd make Passenger Auto Rickshaws under Canara MSE Pragati Scheme.
This MoU shall be mutually beneficial for both the entities as M/s TVS Motor Company Limited will be able to utilize the large network of branches of Canara Bank for financing of the buyers of the vehicle and the Bank will be able to stimulate the growth of MSME advances, especially under Micro and Small Enterprises Segment
Mr R Madhusudan, General Manager, MSME Wing, Head Office and Mr K Sukumar, Senior Vice President, Finance, TVS Motor Company Ltd, exchanged the MoU document.
Canara Bank donates Rs 5 cr to cyclone, flood victims of Odisha
By Deepak Arora
 BHUVANESHWAR, Nov 13: Canara Bank, a leading nationalized Bank is always in the forefront for its CSR activities and concern for the Society. The Bank has today donated Rs. 5.00 Croreas a succor to the cyclone and flood victims in the State of Odisha. The donation cheque was handed over to the Chief Minister of Odisha by Mr P S Rawat, Executive Director of the Bank. Mrs Mythili Krishnamurthy, Chief General Manager of Canara Bank, was also present on the occasion.
On this occasion, the Bank also donated an ambulance to M/s Mission Ashra, a home for destitute.
There were also other CSR activities at Bhuvaneshwar. The Executive Director Mr Rawat also inaugurated computer Learning Centre at Centurion University and handed over a cheque for Rs 25 Lakhs for purchase of 100 computers.
He also inaugurated 100th Corporate Branch of Bhubaneswar Circle at Bhubaneswar (Mid Corporate Branch Bhubaneswar ) and 90th ATM of the circle at Handidhua Chhakand Talcher.
Canara Bank has 100 branches and 90 ATM in the state of Odisha covering 23 districts.
Mr Rawat said the total business of Canara Bank in the state is Rs 10,105 cr. Canara Bank is going to open another 30 branches in the state by March 31, 2014 thereby covering all the 30 districts of Odisha and all the branches will be linked to ATM. The ATM strength will increase to 150 from its present strength of 90.
Canara Bank’s global business scales to 6.73 lakh crore; Net Profit for Q2 at 626 crore
By Deepak Arora
 BANGALORE, Nov 12: For the second quarter ended on September 30, Canara Bank’s global business scaled to Rs 6.73 lakh crore, the bank made record cash recovery at Rs 1,923 crore as compared to Rs 1,479 crore in September 2012 crore and net pofit for the quarter was Rs 626 crore.
Announcing the bank’s financial result for the second quarter at a press conference here on Tuesday, Canara Bank’s Chairman and Managing Director Mr R. K. Dubey said the Gross NPA Ratio stood at 2.64%, down from 2.91% as at June 2013 and Net NPA Ratio was at 2.30%, down from 2.48% as at June 2013.
Flanked by Mr A.K.Gupta, Mr V. S. Krishnakumar and Mr P.S. Rawat, Executive Directors of the Bank, Mr Dubey said the bank showed record Cash Recovery at 1923 crore (Sep’12 - 1479 crore) and Non-Interest Income was at 773 crore, up by 27% y.o.y .
The Chairman and Managing Director said the total business reached 6.73 lakh crore, up by 21.8% y.o.y., total deposits at 3.92 lakh crore, up by 16.3% y.o.y. and advances (net) at 2.81 lakh crore, up by 30.3% y.o.y.
The lower net profit was despite the bank reporting a 11 per cent increase in operating profit -- from Rs.1,282 crore to Rs.1,425 crore. . “The increase in bond yields has affected our margins,” said Mr Dubey.
He said the Bank added 561 new branches and 821 ATMs y.o.y. The number of branches crossed 4,200 and ATMs cross the 4,000 mark. The bank showed robust year on year growth in credit segments. Priority credit was 30 per cent, Agriculture at 32 per cent, MSME at 30 per cent, MSE at 33 per cent, Retail at 36 per cent, Housing at 42 per cent, Vehicle at 44 per cent and personal loans stood at 45 per cent.
Mr Dubey said the Global Deposits of the Bank reached Rs 391613 crore, with 16.3% y.o.y growth compared to Rs 336762 crore as at September 2012. Global Advances (Net) recorded 30.3% y.o.y growth to reach a level of Rs 281104 crore compared to Rs 215751 crore as at September 2012. The CD ratio of the Bank improved to 71.78% from 64.07% as at September 2012.
He said the Bank’s overseas business constituted 6% of the total business. The Bank has 5 overseas branches one each at London, Leicester, Hong Kong, Manama and Shanghai. Total business of the foreign branches increased to Rs 40505 crore from Rs 24693 crore a year ago.
The Bank’s CASA ratio (domestic) stood at 25.6% compared to same ratio a year ago.
The Bank’s savings deposits increased to 80070 crore, with a y.o.y growth of 13.6%, compared to 70494 crore as at September 2012.
The Bank’s clientele base increased to 5.16 crore from 4.43 crore as at September 2012. Over 73 lakh clientele added during the year.
Clientele base comprises 4.57 crore under deposit and 60 lakh under borrowal accounts.
Business per Employee stood at 14.28 crore. Business per Branch stood at 159.56 crore compared to 151.17 crore as at September 2012.
Canara Bank receives Skoch Renaissance Award
By Deepak Arora
 NEW DELHI, Nov 12: Canara Bank, a leading nationalised Bank, has been conferred Skoch Order of Merit Medal and a Citation under India's Best - 2013 for the Skoch Renaissance Award 2013.
The Skoch Renaissance Award 2013 for India’s Best – 2013 is given for corporate contribution to India’s growth post liberalization.
The Skoch Order of Merit Medal and a Citation was conferred on Canara Bank at the ceremony held here on Tuesday.
Mr T Sreekanthan, General Manager of Delhi Circle Office of Canara Bank, received the Skoch Award from Mr P Chidambaram, Union Finance Minister and Mr Montek Singh Ahluwalia, Deputy Chairman of Planning Commission.
Bhat inaugurates Canara bank's Aadhaar enrolement centre in Bangalore
By Deepak Arora
 BANGALORE, Nov 11: Mr S S Bhat, General Manager, Priority Credit and Financial Inclusion Wing, Canara bank, inaugurated the Aadhaar enrolment centre at the bank's Head Office here on Monday.
More number of enrolment centres is proposed across Bangalore where DBTL starts from December 1, 2013. Enrolment centres are also proposed at other parts of Karnataka.
In other parts of the country where DBTL is proposed to start from December 1 in the first six phases, bank has plans to start enrolment centres for the convenience of customers and general public.
The success of Direct Benefit Transfer, the flagship programme of Government of India, hinges on the availability of Aadhaar number in the bank account of the beneficiary of various subsidy schemes of government departments.
In order to facilitate the customer by making him an Aadhaar enrollee, Canara Bank has launched an Aadhaar enrolment centre in its Head Office at 112 JC Road.
FICCI ATA Carnet Facility - a Perfect Tool for duty-free trade
NEW DELHI, Nov 11: Temporary importation provisions are an important tool for companies who want to show their products in foreign markets or for professionals bringing tools of the trade into a foreign country for a limited period of time. ATA Carnet is considered to be the most preferred system of temporary importation facilitated by the World Customs Organization and the International Chamber of Commerce, Paris to reduce barriers in global trade.
It is operational in 73 countries worldwide including UK, USA, France, Germany, Japan, China, Israel, South Africa, Singapore, Switzerland etc.
An ATA Carnet is used only with goods being shipped internationally that will return to India, making it a perfect tool for duty free trade among exhibitors, traders & businessmen. It not only facilitates duty-free and tax-free imports, but can also saves an importer large sums of money. Moreover, an ATA Carnet can eliminate the need for several other international shipping forms at customs in India and abroad. It also allows unlimited international entries and departures for up to one year using the same document.
FICCI administers the ATA Carnet System in India under charter from the Indian Government. Now over 500 ATA Carnets are issued by FICCI every year for goods worth US$ 32 million. Sectors that are widely using Carnet are Automotive, Media & Entertainment, Engineering, Jewellery, Leather, Textile etc. As the approved body in India to issue ATA Carnets, FICCI has helped countless businesses transport a range of goods all over the world and back. ATA Carnet application can be filed online at www.atacarnet.in.
Eicher sells 3001 units in October 2013
 NEW DELHI, Nov 1: Eicher branded trucks and buses have recorded sales of 3001 units in Oct 2013 as compared to 3945 units in Oct 2012, representing a drop of 23.9%. The YTD 2013. Sales stand at 35499 units as compared to LYTD 2012 sales of 40665 units, representing a drop of 12.7%.
In the domestic CV Market ( 5T and Above), Eicher trucks and buses have recorded sales of 2637 units as compared to 3830 units in Oct 2012, representing a drop of 31.1%. YTD 2013 sales stand at 32950 units as compared to YTD 2012 sales of 38745 units, representing a drop of 15%.
On the Exports front Eicher Trucks and Buses have recorded sales of 364 units in Oct 2013 as compared to 115 units in Oct 2012, representing a growth of 216.5%. YTD 2013 sales stand at 2549 units as compared to YTD 2012 sales of 1920 units representing a growth of 32.8%
VE Commercial Vehicles Limited (VECV) is a 50-50 joint venture between the Volvo Group and Eicher Motors Limited. In operation since July 2008, the company includes the complete range of Eicher branded trucks and buses, VE Powertrain, Eicher’s components and engineering design services businesses as well as the sales and distribution business of Volvo trucks within India. VECV vision is to be recognized as the industry leader driving modernization in commercial transportation in India and the developing world.
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