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Maruti Suzuki India Limited and IndusInd Bank on 13th July 09 have announced a strategic tie up for financing Maruti vehicles on an all India basis. As per the agreement, Maruti Suzuki India has nominated IndusInd Bank as its preferred financier for financing all Maruti vehicles. IndusInd Bank will offer financing facilities to all eligible customers for purchasing Maruti vehicles through its network of 180 branches, spread over 147 geographical locations. Apart from this, the Bank also operates through its 484 distribution outlets (as on June 30, 2009) which could be leveraged by Maruti Suzuki India Ltd. The combination of the expertise and the reach brought by these two organizations will provide the customer quicker and easier credit facilities.

Announcing the tie up with Maruti Suzuki India, S.V. Parthasarathy, executive vice- president (Consumer Finance Division), IndusInd Bank Ltd. said, “This strategic alliance is a part of our expansion strategy in the consumer finance segment. We have wide distribution network covering urban, semi-urban & rural areas. We can leverage on our network base of two million customers for mutual benefit. We see excellent synergy in this relationship for both the organisations.”

R. S. Kalsi, chief general manager, Maruti Suzuki India Limited, said, “Maruti Suzuki is keen to expand its presence across the country including rural and semi urban markets. We have the right products and a nationwide sales and service network to support this growth. We feel that car finance needs personalised focus and attention. We are confident that with partners like IndusInd Bank, we will win customer confidence and achieve the objective of greater penetration. We are happy that IndusInd Bank is partnering with Maruti Suzuki to offer transparent, hassle-free finance options to our customers.”

IndusInd Bank Ltd. is one of the new-generation private-sector banks in India which commenced its operations in 1994. The Bank currently has a network of 180 branches, spread over 147 geographical locations in 28 states and union territories across the country. Apart from this it also operates through 484 distribution outlets (as on June 30, 2009). The bank also has a representative office each in Dubai and London.

[Source: WheelsUnplugged]

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