Maruti Suzuki India Limited (MSIL) has announced the signing of a Memorandum of Understanding (MoU) with DBS Bank India Limited to provide dealer inventory funding.
The MoU was signed in the presence of senior executives from both organisations, including Partho Banerjee, Senior Executive Officer – Marketing & Sales, Nobutaka Suzuki, Senior Executive Officer – Marketing & Sales, Kamal Mahtta, Vice President – Allied Business and Vishal Sharma, General Manager – Maruti Suzuki Finance & Driving School from MSIL. Representing DBS Bank India were Surojit Shome, Managing Director & CEO, and Divyesh Dalal, Managing Director & Head – Global Transaction Services, SME and Institutional Liabilities, along with other senior members from both organisations.
Banerjee said, “This partnership is a step towards providing innovative financial products to Maruti Suzuki's extensive dealer network across the country in line with their growing business needs. We are elated about this milestone as DBS Bank India joins hands with Maruti Suzuki for assisting our dealer partners with inventory financing solutions. This strategic alliance strengthens our relationship with the bank, harnessing the combined capabilities of MSIL and DBS Bank India to deliver comprehensive working capital solutions for our dealer partners.”
Dalal, added, “DBS Bank India will leverage its leading digital supply chain solutions for SMEs and domestic presence to ensure that MSIL dealers are supported throughout the entire business cycle. Our nuanced understanding of local business realities and evolving dealer needs, coupled with our tailored product offering, will enable us to meet Maruti Suzuki’s dealer requirements through timely inventory financing. Our collaboration is a step towards building a long-term partnership with MSIL.”
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