Maruti Suzuki India signs MoU with IDBI Bank for inventory funding

Maruti Suzuki India Limited (MSIL) today announced the signing of Memorandum of Understanding (MoU) with IDBI Bank for inventory funding.

This new alliance will help 4000 plus Maruti Suzuki sales outlets across the country with comprehensive inventory funding options for their working capital requirements.  

Speaking on the partnership, Shashank Srivastava, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India Limited, said, “We are elated to partner with IDBI Bank Limited to assist our dealer partners with exclusive financing solutions for inventory funding. We have worked closely with IDBI Bank in developing a curated product and end-to-end working capital solutions for our dealer partners across the country. Our dealer partners are the backbone of our business, and we are committed to supporting them in enhancing their capabilities to address the growing Indian passenger vehicle market.”

Rakesh Sharma, Managing Director, IDBI Bank, said, “We are delighted to partner with MSIL, the market leader in the automotive sector. IDBI Bank with its 1900 plius branches and trusted by its large customer base is well-positioned to provide solutions to MSIL in its rapid growth journey. IDBI Bank’s Supply-Chain Finance will provide easy access to working capital finance to the dealers of MSIL, at favourable terms for driving their business growth. The bank is continuously making its entire processes and products more efficient, flexible, transparent and digital to provide value added services to its customers as well as collaborating partners.”