Atul Auto and IDBI Bank sign MOU for dealers inventory funding
Indian three wheeler manufacturer, Atul Auto Ltd. has signed a Memorandum of Understanding (MOU) with IDBI Bank. This association takes into its realm inventory funding for Atul Auto dealers at attractive interest rates. IDBI Bank will provide funding to 150+ Atul Auto dealers pan India. the new arrangement will enable dealerships to increase working capital, vehicle stocks and as a result, improve retail sales.
“IDBI Bank is a trustworthy & resourceful financial partner and they have a large network of branches across India and this association with IDBI Bank, is in line with our overall strategic business plan towards strengthening the working capital of our dealers. Their access to such funds at attractive interest rates will help them in growing their dealership and offer better retail services to the customer,” said J.J. Chandra , CMD- Atul Auto Ltd.
IDBI Bank, a young and new generation public sector universal bank continues to grow on its cutting edge core banking Information Technology platform. The ability to offer personalized banking and’the “Retail Banking group’. Mr. Jayantibhai J. Chandra , CMD- Atul Auto Ltd. and Mr. S.K. V. Srinivasan , Executive Director ( RBG) – IDBI BANK signed the MoU.