Punjab National Bank (PNB) and Maruti Suzuki India Limited (MSIL) have entered into a strategic partnership through the signing of a Memorandum of Understanding (MoU) aimed at strengthening financial support for Maruti Suzuki’s dealer network across India. The collaboration focuses on providing inventory financing solutions and cash management services to enhance operational efficiency within the automotive distribution ecosystem.
Under the agreement, PNB will offer credit facilities of up to ₹25 crore to eligible dealers through its digital platform. The move is intended to streamline access to working capital, enabling dealers to manage inventory more effectively. In addition to dealer financing, PNB will also provide Cash Management System (CMS) services to Maruti Suzuki, supporting smoother financial operations for the company.
The MoU was signed in New Delhi in the presence of Ashok Chandra, Managing Director and CEO of PNB, along with senior representatives from Maruti Suzuki, including Partho Banerjee, Senior Executive Officer, Marketing & Sales; Tsuyoshi Takeshita, Executive Vice President, Marketing & Sales; and Vishal Sharma, Vice-President, Maruti Suzuki Finance & Driving Schools.
Speaking at the event, Ashok Chandra stated that the collaboration underscores PNB’s role in facilitating sector-specific financial solutions. He noted that the bank’s digital credit delivery mechanism would allow for faster processing and disbursement of funds to dealers, contributing to improved liquidity and business continuity.
Partho Banerjee of Maruti Suzuki emphasized the importance of financial infrastructure in maintaining a resilient dealer network. He said the partnership with PNB is expected to bolster dealers’ capacity to meet customer demand, particularly amid evolving market conditions in the automotive sector.