Chennai: Maruti Suzuki India Limited (MSIL), today, announced the signing of a Memorandum of Understanding (MoU) with Hongkong and Shanghai Banking Corporation India (HSBC India) for inventory funding. This new alliance will empower over 4000+ Maruti Suzuki sales outlets across the country, with comprehensive inventory funding options for their working capital requirements.
The MoU was signed in the presence of Mr. Partho Banerjee, Senior Executive Officer —Marketing & Sales, Mr. Kamal Mahtta , Vice president – Allied Business and Mr. Vishal Sharma, General Manager — Maruti Suzuki Finance & Driving School from MSIL; from HSBC India – Mr. Hitendra Dave, CEO, Mr. Ajay Sharma, Head – Commercial Banking, Mr. Amitabh Malhotra, Head Global Banking, Mr. Gaurav Sahgal, Country Head – Business Banking and Ms. Runa Baksi, Head Global Trade Solutions.
Speaking on the partnership, Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “We are committed to support our dealers in ensuring their readiness as per evolving customer and market needs. Our collaboration with HSBC India will focus on innovative financing solutions for inventory funding for our dealer partners. This strategic alliance will leverage the combined strengths of MSIL and HSBC India to offer comprehensive working capital solutions for our dealer partners.”
Commenting on the partnership, Mr. Ajay Sharma, Head – Commercial Banking, HSBC India, said, “We are pleased to collaborate with MSIL, a leader in the country’s automotive sector, as a financing partner to their extensive dealer network. Our deep understanding of the business dynamics and the evolving needs of dealers coupled with our tailored product offerings will enable us to support dealers through every stage of their business growth.”
