India’s largest carmaker, Maruti Suzuki India (MSI) on Monday signed an MoU (Memorandum of Understanding) with the Bank of Maharashtra to offer dealer inventory financing to its dealers.
Under the partnership, the Bank of Maharashtra’s Mahabank Channel Financing scheme shall provide comprehensive financing opportunities for Maruti Suzuki’s dealer partners across the nation.
Shashank Srivastava, Senior Executive Director, Marketing and Sales, MSI, said there is a business requirement to induct more finance partners for dealer inventory funding, keeping in mind long term business requirements and contingencies.
AS Rajeev, Managing Director & CEO, 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 the MSME category and increase market penetration for MSI.'