Srinagar, Dec 24: J&K Bank has entered into a tie-up with Maruti Suzuki India Ltd (MSIL) to ensure hassle-free finance for all Maruti make cars. The MoU to this effect was signed by GA Regoo, President, J&K Bank and R.S Kalsi, CGM, MSIL in presence of A K Mehta, Bank’s Executive Director here at Bank’s Corporate Headquarters today..
 Speaking on the occasion Bank’s Executive Director, A K Mehta stressed on the need to professionalize the concept of car finance. “Such pacts provide companies like J&K Bank and Marauti opportunities to serve their customers better. The element of professionalism that the two companies are known for will definitely prove in enhanced levels of customer gratification”, he emphasized.
 This is a good beginning but what is needed is a proactive approach on both the sides to make this tie- up successful.
 "This tie-up will open new vistas for both the companies. The guiding principle for the Bank to ink such MoUs is to ensure customer convenience. The aim is to enhance finance to the car loan segment at competitive rates with a speedy disposal mechanism," J&K Bank President, G.A.Regoo said after signing the agreement.
 The bank will offer car loans in its branches pan India. As per the scheme modalities, MSIL and its Dealer network will collaborate with J&K Bank Ltd for the purpose to facilitate vehicle business. The MoU will facilitate prospective customers of MSIL with hassle-free vehicle finance at attractive terms.
 Describing the MoU as a historic milestone in forging ties with reputed companies like J&K Bank, Kalsi said, “There is still a lot the two companies can do to ensure customer delight”, adding, “by entering into the agreement we should be able to put more families on the wheels”.
 The loan facility for MSIL prospective customer is extended up to 7 years with maximum funding. The Bank would extend financing facilities to eligible customers for MSIL cars. The tie-up will benefit both, J&K Bank in further strengthening its position in retail loan space and MSIL in leveraging the retail financing strength and vast network of the Bank.
 Others present on the occasion included Parvez Ahmed, Bank’s President and M A Narchoor, Bank’s Vice-President.

Lastupdate on : Thu, 24 Dec 2009 21:30:00 Makkah time
Lastupdate on : Thu, 24 Dec 2009 18:30:00 GMT
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