Maruti Suzuki partners Standard Chartered Bank for dealer financing solutions

Maruti Suzuki India Ltd on Tuesday said it has entered into an alliance with Standard Chartered Bank for inventory funding for its dealers. The company has signed a Memorandum of Understanding (MoU) with Standard Chartered for inventory funding which will empower over 4,000 Maruti Suzuki sales outlets across the country, with comprehensive inventory funding options for their working capital requirements, Maruti Suzuki India said in a statement.

"This partnership takes us a step towards further empowering our dealer partners, while the company continues to expand its market presence, as always. This strategic alliance will leverage the combined strengths of MSIL and Standard Chartered to offer comprehensive working capital solutions to our dealer partners," Maruti Suzuki India Ltd (MSIL) Senior Executive Officer, Marketing & Sales, Partho Banerjee said.

The financing solution will support dealerships in enhancing their ability to manage inventory efficiently and deliver exceptional service and customer satisfaction, he added.

Standard Chartered Bank Co-Head, Coverage - India & South Asia, Sanjay Gurjar, said, "We truly believe our supply chain solutions will ensure that Maruti Suzuki dealers receive timely and efficient inventory funding, helping them to thrive in a competitive market space."