Mangalore, Oct 7, 2014: Karnataka Bank Ltd, one of the leading Private Sector Banks of India, has joined hands with TVS Motors Ltd, the flagship company of the 100 year old TVS Group, by entering into a Memorandum of Understanding (MOU) for extending inventory funding/Channel finance facility to the Authorised Dealers of the TVS Motors Ltd.
The Bank will provide hassle free channel finance on easy terms to the eligible Authorised Dealers of the Company for acquiring stock of vehicles of the Company under this MOU.
Dr. Meera L B Aranha, General Manager of Karnataka Bank Ltd and J.S. Srinivasan, Vice President-Sales, TVS Motors Ltd have recently signed the Memorandum Of Understanding in this regard at Company’s Sales Head Office, Bangalore.
Karnataka Bank has over 618 branches across India and TVS Motor Company is one of the leading manufacturer of wide range of powered two wheelers and three wheelers, spares & accessories, having a wide dealer network, across India.
The Bank’s Deputy General Manager of Bangalore Region, Gokuldas Pai, Chief Manager of Koramangala Branch Madhava V P, executives of TVS Motor Company Rajesh Rao, AGM-Retail Finance, Abhijit Deshpande, Area Manager-Karnataka(1) and Dilip B V, Zonal Manager-Retail Finance, Inventory Funding & Insurance were also present on this occasion. As a follow up of the above understanding, conferences of the Authorised Dealers of the Company have been conducted at Bangalore and Hubli for familiarization of the channel finance facility being provided by the Bank.