In a strategic move to bolster its dealer network, Maruti Suzuki India Limited (MSIL) has announced a partnership with Union Bank of India, one of the country's leading public sector banks. This collaboration, marked by the signing of a Memorandum of Understanding (MoU) for inventory funding, aims to provide enhanced financial support to over 4,000 Maruti Suzuki sales outlets nationwide.
The MoU was formalised in the presence of key executives from both organisations. The distinguished attendees included Shashank Srivastava and Nobutaka Suzuki from Maruti Suzuki's Marketing & Sales division, alongside A Manimekhalai, the Managing Director & CEO of Union Bank of India, with other senior members contributing to the dialogue.
Shashank Srivastava, reflecting on the partnership, emphasised the importance of evolving with the market's demands and the critical role of dealer networks in this dynamic landscape. 'Our alliance with Union Bank of India, dating back to 2008, has now reached a new zenith with this MoU focusing on innovative financing solutions for our dealers,' Srivastava stated.
A Manimekhalai, expressing her enthusiasm for the collaboration, highlighted the significance of the MoU in offering vital inventory funding support to Maruti Suzuki's extensive dealer network. 'This partnership underscores our commitment to empowering businesses with innovative financial products, enabling dealers to enhance their operational efficiency, competitiveness, and growth opportunities,' she remarked.
By leveraging the combined strengths of both entities, the partnership is set to deliver customised retail finance products and comprehensive working capital solutions, enriching the dealer network with flexible financing options. This move not only benefits the stakeholders directly involved but also serves as a catalyst for growth in the automotive sector, fostering a supportive ecosystem for dealers across the country.
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