Maruti Suzuki India and IDBI sign an agreement for the provision of dealer financing services

12 Oct 2023 , 01:40 PM

Maruti Suzuki India, the largest automaker in the nation, and IDBI Bank have agreed to a preliminary agreement to provide financing options for dealers.

According to a statement released by the carmaker on Tuesday, the new collaboration would give nearly 4,000 Maruti Suzuki sales outlets nationwide access to a variety of inventory funding solutions to meet their working capital requirements. 

In this regard, a Memorandum of Understanding (MoU) has been inked with IDBI Bank. Shashank Srivastava, senior executive officer (marketing & sales) at Maruti Suzuki India (MSI), said, ‘We have worked closely with IDBI Bank in designing curated products and end-to-end working capital solutions for our dealer partners across the country.

The manufacturer is dedicated to assisting its dealer partners in improving their capacities to serve the expanding Indian passenger vehicle market because they are the foundation of the company’s operations, he continued. ‘IDBI Bank’s supply chain finance will provide easy access to working capital finance to the dealers of MSI at favourable terms for driving their business growth,’ Rakesh Sharma, MD of IDBI Bank, stated.

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