TVS ties up with IndusInd bank for credit to dealersNovember 24th, 2008 - 10:22 pm ICT by IANS
Mumbai, Nov 24 (IANS) Two-wheeler maker TVS Motor Co has entered into an agreement with Mumbai-based IndusInd bank in order to forward credit to TVS dealers for maintaining inventory in times of economic crises.As part of the deal, Indusland Bank will provide structured inventory funding to the dealers to meet their working capital requirements to support free flow of inventory.
“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,” Ramesh Ganesan, head of transaction banking of IndusInd Bank, said.
“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,” said H.S. Goindi, president of TVS’ marketing division.