Punjab National Bank and Indian Oil Corporation Ltd have signed a Memorandum of Understanding to meet their dealers’ financing needs. Their electronic dealer finance scheme will offer credit facilities of up to Rs 2 crore at zero margin and without collateral security; existing proprietorship, partnership, LLP, company, trust or society entities with dealership agreements of five years or longer with Indian Oil are eligible.
PNB e-Dealer Scheme
Punjab National Bank (PNB), India’s public sector lender, recently signed an unprecedented Memorandum of Understanding with Indian Oil Corporation Ltd to meet their dealers’ financing needs. Under PNB’s electronic dealer finance scheme, dealers can avail credit facilities at lower interest rates with zero margin or collateral security requirements; and can apply for this loan either as proprietorships, partnerships, LLP companies, trusts or societies having valid dealership agreements for five years or longer with Indian Oil.
PNB plans to offer financial services such as the integration of digital channels such as QR codes, point-of-sale systems, UPI and supply chain finance as well as digital EMI collection for dealers. Furthermore, working capital limits will be provided along with financial flexibility that helps develop new generations of entrepreneurs through partnership agreements between PNB and its dealers, according to its statement.
PNB e-Dealer Login
sdms.px.indianoil/edealer_enu Login is an online portal where you can perform multiple transactions, including utility bill payment, credit card payment, tax payments and mutual fund investments. In addition, this portal makes checking account details, nominee details and history of transactions simple with its mobile app available free for download. However, users should take care not to reveal or change passwords for anyone. Furthermore, suspicious emails that request personal details should also be avoided because this may lead you to replica websites imitating those of banks where user id and password details could be asked.
IOCL ONE Login
IOCL ONE is an all-in-one app for Indian Oil customers that makes life easy and intuitive. You can access all your fuel-related information at once – booking history, petrol pump locations near you and redeeming loyalty points are just a few examples of features included with this app. All it requires to be fully functional is valid mobile number and email address information.
This app operates on Fiserv’s Carat operating system and enables IndianOil outlets to accept debit and credit cards, FASTag-enabled payments, QR code payments and UPI real-time instantaneous payments instantly real time – plus connects with their XTRAREWARDS loyalty program and digital wallets for real time payments.