Maruti Suzuki, Bank of Baroda to support dealer inventory financing

Monday 24 June 2019 13:40 CET | News

India-based car maker Maruti Suzuki India has announced signing of a MoU agreement with Bank of Baroda for dealer inventory financing.

The partnership with Bank of Barodawill allow Maruti Suzuki to provide more comprehensive financing opportunities for dealers as well as customers. The dealer inventory financing will be done as per bank of Baroda’s existing product program of supply chain finance.

Maruti Suzuki representatives have stated their confidence that this collaboration with the Indian public sector bank will offer new-age banking and finance solutions for their customers and dealer partners.

State-run lender Bank of Baroda launched its digital Supply Chain Finance solution in 2017, which aims to accelerate working capital loan opportunities for the small and medium enterprises and large corporate clients. The solution provides a range of supply chain finance products which covers pre- and post-shipment products like dealer and vendor finance.

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Keywords: Maruti Suzuki, Bank of Baroda, dealer inventory financing, India, partnership, supply chain finance, automotive industry, MoU agreement
Countries: World