With a motive to forward credit to its dealers, two-wheeler maker TVS Motor Co has signed an accord with Mumbai-based IndusInd Bank. The alliance with the bank will enable TVS to maintain inventory in the times of economic crisis. Under the agreement, IndusInd bank will help the two-wheeler manufacturing company to meet the needs of its dealers. According to the head of transaction banking of IndusInd Bank, Ramesh Ganesan, the bank is committed to meet the needs of the clients. He said that IndusInd Bank will offer full support to TVS.

 

On the other hand, president of TVS' marketing division, H.S. Goindi stated that partnership with IndusInd Bank will largely benefit company's dealers as they will be able to get ready finance to meet their working capital requirements. TVS Motor Co is the third largest two-wheeler manufacturer in India. The company was instrumental in introducing two-seater 50cc moped and 100cc Indo-Japanese motorcycles in India.

 

IndusInd Bank which was set up in 1994 by the then Indian finance minister, Manmohan Singh started its operation with a capital amount of Rs.1,000 million. The bank has specialized in retail banking services and continuously upgrades its support systems by introducing newer technologies. Currently, the bank is trying to expand its branches all over the country.