Maruti Suzuki partners with Bajaj Finance to expand financing options

Maruti Suzuki India Limited (MSIL) has announced the signing of a Memorandum of Understanding (MoU) with Bajaj Finance Ltd., the lending arm of Bajaj Finserv Ltd., one of India's leading and diversified financial services groups.

Under this partnership, Bajaj Finance will provide tailor-made auto retail financing solutions for Maruti Suzuki customers. The partnership will enable customers to improve their financial flexibility, which will in turn make the process of owning a car as easy and simple as possible. The entire financing process is enabled with a digital customer journey for greater convenience.

The MoU was signed in the presence of the leadership of both the organisations. From MSIL, the team included Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Mr. Bhuvan Dheer, Executive Vice President, Sales & Network, along with Mr. Vishal Sharma, General Manager, Allied Business; from Bajaj Finance Limited, Mr. Rajeev Jain, Managing Director and Mr. Anup Saha, Executive Director were present on the occasion.

Speaking on the partnership, Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, "We are delighted to join forces with Bajaj Finance Limited to further enhance convenient and customised car financing solutions for our customers. Over 80% cars sold in India are financed, therefore availability of easy and personalised financing options is very important. This collaboration aims to offer a range of personalised loan offerings for our valuable customers. We are confident our customers will appreciate this."

Sharing his thoughts on the alliance, Mr. Rajeev Jain, Managing Director, Bajaj Finance Limited, said, "The auto financing market has begun to shift with customers expecting hassle-free access to credit. At Bajaj Finance, we use analytics and automation across the financing value chain to digitise journeys for enhanced customer experience. The partnership with Maruti Suzuki builds on this focus of making financing smooth. It also enables us to delight customers with a comprehensive suite of financial solutions that meet their diverse needs. We are delighted to partner with Maruti Suzuki and serve millions of car buyers across the country."

This partnership will be driven by customer experience at the core for both the companies, who shall together strive to redefine the modern-day car financing and buying experience.

Shares of Bajaj Finance Limited was last trading in BSE at Rs. 7166.05 as compared to the previous close of Rs. 7096.00. The total number of shares traded during the day was 29736 in over 4257 trades.

The stock hit an intraday high of Rs. 7198.75 and intraday low of 7068.60. The net turnover during the day was Rs. 213024948.00.

Shares of Maruti Suzuki India Limited was last trading in BSE at Rs. 9521.55 as compared to the previous close of Rs. 9549.45. The total number of shares traded during the day was 4000 in over 878 trades.

The stock hit an intraday high of Rs. 9617.15 and intraday low of 9510.00. The net turnover during the day was Rs. 38263171.00.

Source : Equity Bulls

Keywords

BajajFinance INE296A01024 MarutiSuzukiIndia INE585B01010 MoU RetailFinancingSolutions