Maruti Suzuki India (MSIL) on Monday said it has signed a Memorandum of Understanding (MoU) with Bank of Maharashtra to offer dealer inventory financing to the company’s dealers.
Under the partnership, Bank of Maharashtra’s Mahabank Channel Financing scheme will provide comprehensive financing opportunities for MSIL’s dealer partners across the nation.
“There is a business requirement to induct more finance partners for dealer inventory funding keeping in mind long term business requirements and contingencies,” Shashank Srivastava, Senior Executive Director,Marketing and Sales, MSIL, said.
Sharing his thoughts on the alliance, AS Rajeev, Managing Director and Chied Executive Officer, Bank of Maharashtra, said, “The tie-up will allow us to further consolidate the business to provide one-stop services under supply chain finance. We are optimistic that this partnership will help in leveraging business opportunities in MSME category and increase market penetration for MSIL.”