Atul Auto inks MoU with IDBI Bank for dealer inventory funding

Three-wheel manufacturer Atul Auto has entered into a Memorandum of Understanding (MoU) with IDBI Bank to avail of inventory funding for its dealers at attractive interest rates. As part of this arrangement, IDBI Bank will provide funding to over 150 dealers of Atul Auto across the country. This will enable them to increase their working capital, vehicle stocks and consequently enhance retail sales.

Atul Auto sold 36,972 three-wheelers in the domestic market in 2013-14, posting a year-on-year 16.31 percent increase. On the export front, it shipped 585 units.

Photograph (L-R): Jayantibhai J Chandra, CMD, Atul Auto with S K V Srinivasan, executive director (RBG), IDBI Bank.