New Delhi, March 28 (IANS) Global automobile major Volkswagen's Indian finance subsidiary Monday said that it has been granted non-banking finance company (NBFC) licence by the Reserve Bank of India (RBI).

"The RBI license enables the company to offer customers of Volkswagen, Skoda and Audi cars the opportunity of a wide range of financial services," Volkswagen Finance Private Limited said in a statement.

The company said the licence would enable it to offer three product lines, including VW Finance, Skoda Finance and Audi Finance.

"VWF India wants to present itself in the Indian market as a mobility provider with products which fully respect the needs of customers," said Joern Achim Kurzrock, chairman of the board of Volkswagen Financial Services India.

According to Kurzrock, the company would focus on specific needs of each customer segment by offering financing options including 3-in-1 bundled packages consisting of financing, insurance and maintenance.

The Mumbai-based company would be making an initial investment of over $24 million (Rs.120 crore) in the country.

The statement added that the company's customers can avail of financing options at any of the 164 dealer outlets of its brands.