Maruti Suzuki India Limited (MSIL) has signed a Memorandum of Understanding (MoU) with IDBI Bank Limited for inventory funding, empowering over 4,000 sales outlets of the carmaker across the country with comprehensive inventory funding options for their working capital requirements.
Shashank Srivastava, Senior Executive Officer, Marketing & Sales, MSIL, said that the dealer partners are the backbone of the business, and the OEM is committed to supporting them in enhancing their capabilities to address the growing Indian passenger vehicle market.
Rakesh Sharma, Managing Director, IDBI Bank, said that the bank’s Supply-Chain Finance will provide access to working capital finance to the dealers of MSIL at favourable terms for driving their business growth.