Maruti Suzuki India signs MoU with IDBI to provide dealer financing solutions
The new alliance will empower over 4,000 Maruti Suzuki sales outlets across the country with comprehensive inventory funding options for their working capital needs, the automaker said in a statement on Tuesday.
The country's largest car maker Maruti Suzuki India has signed an initial pact with IDBI Bank to offer financing solutions for dealers.
The new alliance will empower over 4,000 Maruti Suzuki sales outlets across the country with comprehensive inventory funding options for their working capital needs, the automaker said in a statement on Tuesday.
A Memorandum of Understanding (MoU) has been signed with IDBI Bank in this regard.
"We have worked closely with IDBI Bank in developing curated products and end-to-end working capital solutions for our dealer partners across the country," Maruti Suzuki India (MSI) Senior Executive Officer (Marketing & Sales) Shashank Srivastava said.
Dealer partners are the backbone of the company's business and the automaker is committed to supporting them in enhancing their capabilities to address the growing Indian passenger vehicle market, he added.
"IDBI Bank's supply chain finance will provide easy access to working capital finance to the dealers of MSI at favourable terms for driving their business growth," IDBI Bank MD Rakesh Sharma said.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
07:21 PM IST