Earlier today, TVS Motors and HDFC Bank entered in an agreement in order to fund TVS Motors dealers. The two firms signed a MoU which enables the dealers of TVS Motors to transfer funds online, get access to repayment facilities and account status in real time.
“This agreement between TVS Motors and our bank would offer opportunities to business entrepreneurs to avail of the services of the bank,” said HDFC Bank’s Mr. A Khanna, Senior Executive Vice President Vehicle Loans.
The agreement will provide financial support and subsidies to more than 600 dealerships across the country. As a result of this move, dealers would find it easy to increase working capital, stocks and boosts sales which will indirectly help TVS Motors.
“This linkup with HDFC Bank would help dealers increase working capital. Access to easy terms of finance as well as lower interest rates would help in increase of business and also offer better terms of sales and service customers,” said Mr. H S Goindi, President, Marketing of TVS Motor Company.