Maruti Suzuki and IDFC FIRST Bank enter an into a strategic partnership to offer personalised vehicle financing options

Maruti Suzuki India Limited, announced the signing of a Memorandum of Understanding (MoU) with IDFC FIRST Bank Limited. As part of this collaboration, the bank will offer personalized finance options across New Car Loans, Pre-Owned Car Loans and Commercial Vehicle Loans to customers looking to purchase Maruti Suzuki vehicles. With the latest partnership with IDFC FIRST Bank Limited, Maruti Suzuki continues to provide a wide range of financing options for customers across the country.

The MoU was signed in the presence of senior management from Maruti Suzuki and IDFC FIRST bank, from MSIL Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Mr. Bhuvan Dheer, Executive Vice President, Sales, Mr. Vishal Sharma, General Manager, Allied Businesses and from IDFC FIRST bank Mr. V Vaidyanathan, MD & CEO, Mr. Madhivanan Balkrishnan, Chief Operating Officer, Mr. Pradeep Natarajan, Head - Retail Banking, Mr. Rishi Kant Misra, Business Head - Vehicle Loans were a part of the MoU ceremony.

Speaking on the partnership, Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, "We are thrilled to announce our partnership with IDFC FIRST Bank to provide lucrative financial solutions for our valued customers. It has been our goal to offer a comfortable and hassle-free financing experience for car buyers, and this collaboration enables us to take this further through an array of personalized loan benefits offered by the bank. This tie-up will help us cater to the diverse needs of customers and make the vehicle purchasing process much more accessible and convenient."

Sharing his thoughts on the alliance, IDFC FIRST Bank COO, Mr. Madhivanan Balakrishnan said, "We are delighted to be partnering with Maruti Suzuki to enhance customer's vehicle buying and financing experience through customized & innovative loan offerings. As a Bank, we always believe in putting our customer first, and this partnership aligns with our philosophy. IDFC FIRST Bank leverages analytics and digitization to provide seamless & easy financing experience to customers across our 700+ branches PAN India."

The partnership with IDFC FIRST Bank will further allow Maruti Suzuki to expand its range of financing options and provide customers with greater flexibility and choice. This collaboration is set to further enhance Maruti Suzuki's position as leader in the Indian automobile industry along with becoming one of the most preferred choices for customers owing to IDFC FIRST Bank's customer friendly processes.

Shares of IDFC First Bank Limited was last trading in BSE at Rs. 54.03 as compared to the previous close of Rs. 53.92. The total number of shares traded during the day was 1855783 in over 5618 trades.

The stock hit an intraday high of Rs. 54.20 and intraday low of 53.41. The net turnover during the day was Rs. 99896657.00.

Shares of Maruti Suzuki India Limited was last trading in BSE at Rs. 8672.75 as compared to the previous close of Rs. 8623.90. The total number of shares traded during the day was 18019 in over 2495 trades.

The stock hit an intraday high of Rs. 8704.90 and intraday low of 8618.15. The net turnover during the day was Rs. 156319655.00.

Source : Equity Bulls

Keywords

IDFCFirstBank INE092T01019 MarutiSuzukiIndia INE585B01010 MoU VehicleFinancing Personalized