MG Motor India ties up with SBI for dealer finance

MG Motor India Monday said it has joined hands with State Bank of India (SBI) to provide wholesale inventory finance to its dealers through the bank's advanced electronic lending product.

The two partners have signed a memorandum of understanding to avail SBI's Electronic Dealer Finance Scheme (e-DFS), MG Motor India said in a statement.

The tie-up will provide access to wholesale inventory finance to MG partner dealers through SBI's technologically-advanced electronic lending product, it added.

Commenting on the pact, MG Motor India Chief Commercial Officer Gaurav Gupta said, "Joining hands with SBI, the country's largest public sector bank, gives seamless access to credit to our network of chosen dealer partners."