Maruti Suzuki India Limited has revealed the formalization of a Memorandum of Understanding (MoU) with DBS Bank India Limited aimed at dealer inventory funding. This fresh partnership expands the array of inventory funding solutions available to more than 3863 Maruti Suzuki sales outlets nationwide.
The Memorandum of Understanding (MoU) was signed in the presence of key representatives including Partho Banerjee, Senior Executive Officer of Marketing & Sales, Nobutaka Suzuki, Senior Executive Officer of Marketing & Sales, Kamal Mahtta, Vice President of Allied Business, and Vishal Sharma, General Manager of Maruti Suzuki Finance & Driving School from MSIL. Also present were Surojit Shome, Managing Director & CEO of DBS Bank India, and Divyesh Dalal, Managing Director & Head of Global Transaction Services, SME, and Institutional Liabilities, DBS Bank India, along with senior members from both organizations.
Speaking at the event, Partho Banerjee, Senior Executive Officer for Marketing and Sales at Maruti Suzuki India Limited, stated, “This partnership is a step towards providing innovative financial products to Maruti Suzuki's extensive dealer network across the country in line with their growing business needs. We are elated about this milestone as DBS Bank India joins hands with Maruti Suzuki for assisting our dealer partners with inventory financing solutions. This strategic alliance strengthens our relationship with the bank, harnessing the combined capabilities of MSIL and DBS Bank India to deliver comprehensive working capital solution for our dealer partners”.
Commenting on the partnership, Divyesh Dalal, Managing Director and Head of Global Transaction Services, SME, and Institutional Liability Business at DBS Bank India, stated, “We are pleased to collaborate with Maruti Suzuki India Limited, a leader in the country’s automotive sector, as one of the trusted financing partners to their widespread dealer network. DBS Bank India will leverage its leading digital supply chain solutions for SMEs and domestic presence to ensure that MSIL dealers are supported throughout the entire business cycle. Our nuanced understanding of local business realities and evolving dealer needs, coupled with our tailored product offering will enable us to meet Maruti Suzuki’s dealer requirements through timely inventory financing. Our collaboration is a step towards building a long-term partnership with MSIL”.