Maruti Suzuki, Bank of Maharashtra sign MoU to support dealer partners – Times of India


NEW DELHI: Maruti Suzuki India Limited (MSIL) on Monday announced signing of a MoU (Memorandum of Understanding) with Bank of Maharashtra for financing of inventory to dealers of the company.
Under the partnership, Bank of Maharashtra’s Mahabank Channel Financing scheme shall provide comprehensive financing opportunities for MSIL’s dealer partners across the nation.
Bank of Maharashtra under Mahabank Channel Financing scheme is set to offer the following facilities to Maruti Suzuki dealer partners: competitive pricing, re-payment tenures, flexible limits, digitized and real time transaction alongside a 2,000 branch network across India.
Shashank Srivastava, Senior Executive Director, Marketing and Sales, MSIL, said, “There is a business requirement to induct more finance partners for dealer inventory funding keeping in mind long term business requirements and contingencies.”
While 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 MSME category and increase market penetration for MSIL.”

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