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Maruti Suzuki inks partnership with BOB for dealer financing

Last Updated: June 25, 2019

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Maruti Suzuki inks partnership with BOB for dealer financing

Maruti Suzuki inks partnership with BOB for dealer financing

25 June 2019 Current Affairs: Maruti Suzuki, an Automobile manufacturer in India signed 'Preferred Financier' MoU(Memorandum of understanding) with Indian multinational with Bank of Baroda(BOB) in order to improve credit for dealership inventory financing.
The partnership with Bank of Baroda allows Maruti Suzuki to finance opportunities to dealers as well as customers. 
The financing will work in line with the Bank of Baroda's product program of Supply Chain Finance. 
The tight liquidity situation in the financial system of the IL&FS crisis and rising bad loans prompted the banks.
Lenders introduced strict credit norms for automobile dealers due to the rising cases of bad loans in this segment of the automobile industry. 
The dealers were asked to provide collateral extended by banks. 

About Maruti Suzuki: 
CEO: Kenichi Ayukawa 
Headquarters: New Delhi 
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