In a strategic move, Maruti Suzuki India Limited (MSIL) has entered into a Memorandum of Understanding (MoU) with Jammu & Kashmir Bank, marking a significant partnership that aims to provide robust inventory funding solutions for Maruti Suzuki's extensive network of over 4000 sales outlets nationwide.
The MoU signing ceremony was attended by key representatives from both organisations, including Shashank Srivastava, Senior Executive Officer —Marketing & Sales, and Vishal Sharma, General Manager — Allied Business from Maruti Suzuki. On the J&K Bank side, Baldev Prakash, Managing Director & CEO, Sudhir Gupta, Executive Director, and Ashutosh Sareen, General Manager, were among the prominent figures present.
Srivastava highlighted the importance of the dealership network in Maruti Suzuki's business and expressed the company's commitment to supporting dealers in adapting to changing customer and market demands. The collaboration with J&K Bank is expected to focus on delivering innovative financing solutions for inventory funding, reinforcing the long-term association between the two entities.
Baldev Prakash, Managing Director & CEO of J&K Bank, expressed his delight in partnering with Maruti Suzuki, emphasising the pivotal role of the MoU in providing essential inventory funding support seamlessly across the country. He sees the partnership as a strategic alliance, benefiting both parties while reflecting their joint commitment to customer convenience and business growth in their operational regions.
This alliance signifies a leap forward for Maruti Suzuki and Jammu & Kashmir Bank, leveraging their strengths to offer tailored retail finance products and end-to-end working capital solutions. The partnership is poised to create a win-win situation, providing dealers with the financial support needed for sustainable growth and reinforcing the commitment of both organisations to innovation and customer satisfaction.
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