IndusInd Bank Ltd. and TVS Motor Company have entered into an agreement wherein IndusInd Bank will provide structured inventory funding to dealers of TVS Motor Company. While this tie-up will help the bank to escalate its realm of trade, it will enable TVS Motor Company to beef up its backward integration programme. This business initiative will further strengthen IndusInd's position in the vehicle finance space.
Mr. Ramesh Ganesan, Head Transaction Banking, IndusInd Bank said, "IndusInd Bank's focus is to expand the scope of client relationships by adding value to partners of our clients. There is an increased need for financing in this sector, and now is the time to demonstrate this support. We propose to deliver this product through a technological platform enabling integration with the manufacturer and the dealers, thus speeding up credit delivery at a reduced cost, supported by our existing widespread branch network. The dealer financing model fits well with financing of the manufacturer and the consumer segment." "TVS Motor Company is happy to be associated with IndusInd Bank, as it will enhance the working capital of our dealers. This tie up opens out new avenues of co-operation including consumer finance arrangements for two wheelers. Our dealers will benefit as they will have access to ready finance from IndusInd Bank to meet their working capital requirements in the current market conditions" Mr. H S Goindi, President - Marketing, TVS Motor Company said. This tie up is an extension to the supply chain programme initiated by the Bank's Transaction Division. B.Karthick Research Analyst. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
