Maruti Suzuki India Limited (MSIL) signed a Memorandum of Understanding (MoU) with IDBI Bank Limited for inventory funding. This new alliance will empower 4000+ Maruti Suzuki sales outlets across the country with comprehensive inventory funding options for their working capital requirements.
The MoU was signed in the presence of Mr. Shashank Srivastava, Senior Executive officer — Marketing & Sales, Mr. Bhuvan Dheer, Executive Vice President — Sales & Network and Mr. Vishal Sharma, General Manager — Allied Business from Maruti Suzuki; and Mr. Rakesh Sharma, Managing Director, Mr. Suresh Khatanhar, Deputy Managing Director, Mr. Nagraj Garla, Executive Director of IDBI Bank, along with other senior members from both the organisations.
Speaking on the partnership, Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “We are elated to partner with IDBI Bank Limited to assist our dealer partners with exclusive financing solutions for inventory funding. We have worked closely with IDBI Bank in developing curated product and end-to-end working capital solutions for our dealer partners across the country. Our dealer partners are the backbone of our business, and we are committed to supporting them in enhancing their capabilities to address the growing Indian passenger vehicle market.”
Commenting on the partnership, Mr. Rakesh Sharma, Managing Director, IDBI Bank, said,