Chennai: Maruti Suzuki India Limited (MSIL), today, announced the signing of a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to offer enhanced inventory funding solutions for its dealer network across the country. This collaboration aims to streamline and strengthen the financial ecosystem for Maruti Suzuki dealers by providing customised inventory funding for working capital requirements.
The MoU was signed in the presence of Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Mr. Tsuyoshi Takeshita, Executive Vice President, Marketing & Sales, Mr. Vishal Sharma, Vice-President, Maruti Suzuki Finance & Driving School, from MSIL; from Punjab National Bank – Mr. Ashok Chandra, MD & CEO and other senior delegates.
Speaking on the partnership, Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “Our dealer partners are integral to our success. This partnership with Punjab National Bank is a step forward in ensuring they have robust financial support to meet growing market demands. We believe this initiative will enhance their operational capabilities and contribute to overall customer satisfaction. This partnership reflects the shared vision of Maruti Suzuki and Punjab National Bank to support the automotive ecosystem and contribute to the growth of India’s mobility sector.”
Commenting on the partnership, Mr. Ashok Chandra, MD & CEO, Punjab National Bank, said, “We are delighted to partner with Maruti Suzuki to offer tailored financing solutions to its extensive dealer network. PNB’s strong legacy in banking and commitment to innovation will ensure that dealers receive timely and efficient financial support to grow their businesses. The tie-up will empower dealers with improved liquidity, faster turnaround times, and simplified processes, enabling them to manage their operations more efficiently.”
