The largest lender of the country, State Bank of India has inked a deal with leading two wheeler manufacturer, Bajaj Auto. As part of the deal, the bank would be offering inventory finance to all dealers of Bajaj Auto.
Dealers mainly coming in the small and medium enterprises (SME) category will be offered cash credit facility by SBI in the range of Rs 25 lakhs to Rs 5 crore.
Following the tremendous sales performance by Bajaj during the fiscal just ended, the company decided to come up with inventory finance options for its dealers.
Loans would be given out to dealers at competitive rates of interest.