Mumbai, March 2 (PTI): GE Capital India has agreed to sell its financial services business to a consortium led by Aion Capital Partners and ex-GE Capital executives Pramod Bhasin and Anil Chawla.

The sale includes the financial services businesses of GE Capital India comprising auto leasing, healthcare financing and corporate lending and leasing, Aion Capital said.

The sale is part of the global plan to exit the consumer finance business announced last year. The financial details of the sale have not been disclosed.

GE Capital has a joint venture with the State Bank of India for its credit card business based in Gurgaon.

The consortium has signed an agreement to acquire these businesses and the transaction is subject to statutory and regulatory approvals, Aion's statement added.

Aion Capital Partners is an India-focused fund established by an affiliate of Apollo Global Management with ICICI Venture Funds Management Company.

Bhasin is a GE veteran having headed GE Capital India. He started GE Capital's businesses in the country.

He is also considered a pioneer in the BPO industry in the country, having started GE Capital International Services that subsequently became Genpact.

Chawla was the head of the commercial business operations of GE Capital India.

He has also helped DE Shaw's business in the country.