Maruti Suzuki India Ltd

on Tuesday said it has entered into an alliance with Standard Chartered Bank for

inventory funding

for its dealers. The company has signed a Memorandum of Understanding (MoU) with Standard Chartered for inventory funding which will empower over 4,000

Maruti Suzuki sales outlets

across the country, with comprehensive inventory funding options for their working

capital

requirements, Maruti Suzuki India said in a statement.

"This partnership takes us a step towards further empowering our dealer partners, while the company continues to expand its market presence, as always. This strategic alliance will leverage the combined strengths of MSIL and Standard Chartered to offer comprehensive working capital solutions to our dealer partners," Maruti Suzuki India Ltd (MSIL) Senior Executive Officer, Marketing & Sales, Partho Banerjee said.

The financing solution will support dealerships in enhancing their ability to manage inventory efficiently and deliver exceptional service and customer satisfaction, he added.

Standard Chartered Bank Co-Head, Coverage - India & South Asia, Sanjay Gurjar, said, "We truly believe our supply chain solutions will ensure that Maruti Suzuki dealers receive timely and efficient inventory funding, helping them to thrive in a competitive market space."