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GMAC's Indian focus

GM's dealer finance arm GMAC is increasing its stake in its Indian joint venture GMAC TCFC from 51 per cent to 74.9 per cent.

The JV is an enterprise shared with TCFC Finance, the investment business subsidiary of Centurion Bank.

The Indian government has already authorised the change in the equity composition of the JV. The foreign investment 'cap' was raised in a recent Indian Budget to 74.9 per cent.

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