TVS Motors, a car maker based in Chennai has said that it has entered into a memorandum of understanding with India’s biggest lender, State Bank of India (SBI) for financing the inventory of car manufacturer’s dealers.
As per the agreement, SBI will offer financing to more than 600 dealers of TVS Motors spread throughout the country. This move will help them raise their working capital and increase inventory of vehicles, the company said in a statement.
H S Goindi, who is the President (Marketing) of TVS Motors said that this tie up with SBI is a part of their general tactical business plan for strengthening the working capital of the company’s dealers. The dealers can avail of finance at lucrative rates of interest that will assist them in expanding their dealership and provide better retail services to the clients.
Get the best deals on loan offers
Some useful personal finance calculators
Also Read ( given below is an example):