New Delhi: Maruti Suzuki India Limited (MSIL) on Monday announced the signing of the MoU (memorandum understanding) with the Bank of Maharashtra for financing inventory to company dealers.
In a partnership, the Bank of Maharashtra Mahabank Channel Financing Scheme will provide a comprehensive financing opportunity for MSIL dealer partners throughout the country.
Bank of Maharashtra under the Mahabank Channel Financing Scheme will offer the following facilities for Maruti Suzuki Dealer Partners: competitive prices, tenure repayments, flexible limits, digital transactions and real time in addition to 2,000 branch networks throughout India.
Shashank Srivastava, Senior Executive Director, Marketing and Sales, MSIL, said, “There are business requirements to view more financial partners for dealer inventory funding that considers the requirements and contingencies of long-term business.” While as Rajeev, Managing Director & CEO, Bank of Maharashtra, said, “This bond will enable us to further consolidate the business to provide one-stop service under financial chain finance.
We are optimistic that this partnership will help in utilizing business opportunities in the MSME category and increase market penetration for MSIL.
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