Maruti Suzuki India on July 19 announced signing of a Memorandum of Understanding (MoU) with Bank of Maharashtra.
Under the partnership, Bank of Maharashtra’s Mahabank Channel Financing Scheme will provide comprehensive financing opportunities for MSIL’s dealer partners across the nation.
Elaborating on the alliance, Mr. Shashank Srivastava, Senior Executive Director, Marketing and Sales, MSIL, said, “We are thankful that this collaboration with Bank of Maharashtra will offer new-age banking and finance solutions for our dealer partners. There is a business requirement to induct more finance partners for dealer inventory funding keeping in mind long-term business requirements and contingencies.”
Mr. AS Rajeev, Managing Director & CEO, Bank of Maharashtra, said, “We are extremely pleased to partner with MSIL, the largest passenger vehicle manufacturer in India, with an aim to provide enhanced digital lending services to its dealers and thereby produce a great synergistic effect.”