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Here’s what Maruti Suzuki have to say about the partnership:

Maruti Suzuki India Limited (MSIL), today, announced the signing of a Memorandum of Understanding (MoU) with Standard Chartered 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. Nobutaka Suzuki, Senior Executive Officer — Marketing & Sales, Mr. Vishal Sharma, Vice-President — Maruti Suzuki Finance & Driving School, from MSIL; and Mr. P.D Singh, CEO- India & South Asia, Mr. Sanjay Gurjar, Co-Head Coverage India & SA, Mr. Vikash Goenka, Head, Supply Chain Finance, India, Mr. Sourish Mitra, Head-Sales, Supply Chain Finance India, from Standard Chartered.

Speaking on the partnership, Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said,

This partnership takes us a step towards further in empowering our dealer partners, while the Company continues to expand its market presence, as always. This strategic alliance will leverage the combined strengths of MSIL and Standard Chartered to offer comprehensive working capital solutions to our dealer partners. We believe this innovative financing solution will support dealerships in enhancing their ability to manage inventory efficiently and deliver exceptional service and customer satisfaction.

Commenting on the partnership, Mr. Sanjay Gurjar, Co-Head, Coverage – India & South Asia, Standard Chartered Bank, said,

We are very excited to partner with Maruti Suzuki, a leader in the automotive sector, to provide financing solutions to its dealer partners. At Standard Chartered Bank, we are committed to supporting businesses in India by providing them with the necessary financial tools and developing customised ecosystem solutions to drive their strategic growth. We truly believe our supply chain solutions will ensure that Maruti Suzuki dealers receive timely and efficient inventory funding, helping them to thrive in a competitive market space.

About Standard Chartered Bank

Standard Chartered Bank has been operating in India with a continuous presence of over 165 years making it one of the oldest foreign banks in the country. The Bank has a network of 100 branches across 42 cities. Key business segments include Corporate and Investment Banking and Wealth and Retail Banking. For more information, visit https://www.sc.com/in/. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.