The MoU, signed at the Bank’s headquarters in Mumbai, signifies a significant collaboration between Union Bank of India and Maruti Suzuki India Ltd. Under this partnership, Union Bank of India will offer a comprehensive range of products through a digital journey in a fully automated platform, providing Inventory Funding options for working capital requirements to Maruti Suzuki Dealers covering their sales outlets nationwide.
Ms. A. Manimekhalai, MD & CEO of Union Bank of India, expressed her delight at the partnership, highlighting the bank's dedication to empowering businesses through innovative financial products. She emphasized that dealer finance is a cornerstone of their commitment to dealerships, offering tailored financial solutions to optimize operations, enhance competitiveness, and unlock growth opportunities.
Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, emphasized the importance of the robust dealer network to their business. He expressed commitment to supporting dealers in meeting evolving customer and market needs. The collaboration with Union Bank of India aims to provide innovative financing solutions for inventory funding for dealer partners. This strategic alliance leverages the strength of both organizations to offer tailored retail finance products and end-to-end working capital solutions, marking a significant milestone for both Union Bank of India and Maruti Suzuki India Limited.
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