Union Bank of India partners with Maruti Suzuki India Ltd for Inventory Funding

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The MoU was executed today at the Bank’s Head Quarters in Mumbai in the presence of dignitaries from Union Bank of India & Maruti Suzuki India Ltd. Union Bank of India will be offering comprehensive range of products through a digital journey in a fully automated platform supporting dealers through its wide network. Bank will be providing Inventory Funding options for working capital requirements to Maruti Suzuki Dealers covering their sales outlets across the country.

Ms A Manimekhalai, MD&CEO, Union Bank of Indiasaid, “As one of the largest Public Sector Banks, we are delighted to partner with Maruti Suzuki India Limited (MSIL) – the leading car manufacturer in the country. The MoU is surely a big step towards providing vital inventory funding support to Maruti Suzuki’s extensive dealer network seamlessly across the country, reinforcing our dedication to empower businesses through innovative financial products.

Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “As a company, we take pride in the robust dealer network which truly forms the bedrock of our business. We are committed to support our dealers in ensuring their readiness as per evolving customer and market needs. Our collaboration with Union Bank of India will focus on innovative financing solutions for inventory funding for our dealer partners.