Maruti Suzuki ties up with PNB to offer enhanced inventory funding solutions for dealers
ADVERTISEMENT Maruti Suzuki and Punjab National Bank have signed a Memorandum of Understanding (MoU) to this effect.
The collaboration aims to streamline and strengthen the financial ecosystem for the company's dealers by providing customised inventory funding for working capital requirements, the auto major said in a statement.
"Our dealer partners are integral to our success. This partnership with Punjab National Bank is a step forward in ensuring they have robust financial support to meet growing market demands," Maruti Suzuki India Senior Executive Officer Marketing & Sales Partho Banerjee said.
The tie-up will empower dealers with improved liquidity, faster turnaround times, and simplified processes, enabling them to manage their operations more efficiently, Punjab National Bank (PNB) MD & CEO Ashok Chandra said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
6 minutes ago
- Mint
Standard Bank Profit at Record as Fees Beat Soft Loan Growth
(Bloomberg) -- Standard Bank Group Ltd., Africa's biggest lender by assets, reported first-half profit climbed to a record as fee growth and trading revenue helped offset a slowdown in interest income. Headline earnings grew 8% to 23.8 billion rand ($1.35 billion), the Johannesburg-based lender said in a statement on Thursday. Net income available to shareholders increased 11% to 23.8 billion rand, while the lender's return on equity climbed to 19.1% Standard Bank's shares surged as much as 6% by 10 a.m. in Johannesburg to an intraday record. The stock is now up 15% since the start of the year. The lender, backed by Industrial & Commercial Bank of China Ltd., has seen its business in Africa grow as it increased deposits and added customers. Angola, Ghana, Kenya, Mauritius, Mozambique and Nigeria are among Standard Bank's top contributors. Net fee and commission revenue at the bank jumped 12%, while net interest income rose 2% as lower average interest rates compressed loan margins. Headline earnings at the bank's South African operations climbed 14%, amid growth in active business clients that was underpinned by an expanding transactional and merchant account base. Headline earnings at the bank's rest-of-Africa operations climbed 8%. The unit now makes up 41% of the bank's total earnings, while it's South Africa operations account for 49%. Credit impairment climbed 2% to 8.14 billion rand in the period, amid sovereign credit risk deterioration at some of the bank's African operations, particularly Mozambique. 'Subject to developments, this may give rise to additional impairment charges in the second half of the year,' the lender said in a statement. The rise in bad debts resulted in the lender's credit loss ratio widening marginally to 0.93%, within the board approved target of 70 basis points to 100 basis points. The bank reported a so-called common-equity tier 1 ratio of 13.2%, surpassing the 12.5% board approved target. It's exceeded this range since 2021. Since 2022, the group has cumulatively mobilized more than 230 billion rand in sustainable finance since 2022, with 53 billion rand mobilized in the first half of 2025. The lender plans 450 billion rand in green loans by 2028. Standard Bank declared an interim dividend of 8.17 rand per share, surpassing median analyst estimates of 7.72 rand. (Updates with South Africa performance in fourth paragraph, credit impairments in fifth paragraph.) More stories like this are available on
Business Standard
36 minutes ago
- Business Standard
Medulla Communications Expands Global Footprint with Strategic Launch in Singapore
PRNewswire Mumbai (Maharashtra) [India], August 14: Medulla Communications Pvt. Ltd., one of the world's most awarded healthcare-specialist advertising agencies, has announced the launch of its new hub in Singapore. With over 15 years of experience in solving complex healthcare challenges, Medulla is now looking to create a super-specialist category as the first digital healthcare advertising agency in Asia. New Hub to Deliver Scalable, Specialist Healthcare Marketing Solutions Across APAC. Medulla is among the rare agencies globally to win the world's biggest advertising awards for both creativity and marketing effectiveness in healthcare. It has been named Healthcare Agency of the Year at the Cannes Lions and ranked among the Top 3 Brands of the Year at the APAC Effies. The move reinforces its commitment to delivering high-impact, end-to-end healthcare marketing services--including brand strategy, creative 'brand love' campaigns, performance marketing, HCP (healthcare professional) engagement (both virtual and on-ground), CRM, patient support programs (PSPs), and precision-targeted digital campaigns. This expansion also enables Medulla to scale its talent pool and resources more effectively across markets including India. "With over 15 years dedicated to understanding and solving healthcare challenges worldwide--including working with clients in Singapore and Asia--we're excited to now offer our expertise more directly through a presence on the ground," said Praful Akali, Founder and Managing Director of Medulla Communications. "We're passionate about improving lives, and we believe that with our proven capabilities, we're well-positioned to drive real impact across the region." Heading Medulla's APAC operations as Managing Partner is Taffy Ledesma, a seasoned leader with extensive experience across healthcare, FMCG, and agency leadership. Taffy began his career on the client side with Johnson & Johnson, Mead Johnson, and Unilever, before moving into agency leadership roles--most recently as Managing Director at DDB Indonesia and Country Head at Hello Health Group. Speaking about his new role, Taffy said: "My experience across both client and agency ecosystems gives me a unique lens to truly partner with brands--ensuring their healthcare innovations reach the people they're meant for. Commercial effectiveness is my core focus, because that's what makes healthcare communication truly meaningful." Medulla has had the privilege of partnering with some of the world's leading global companies including Pfizer, Novartis, Ferring, Mylan, Braintap, Bayer, Kenvue, Big Muscles, IAPC, Muscle Blaze and more. With this expansion, Medulla is poised to further its mission of delivering transformative healthcare marketing solutions across new frontiers. About Medulla Communications: Founded by Praful Akali in 2008, Medulla Communications has consistently been recognized as one of the top healthcare agencies globally. The agency has been honoured as the #1 Healthcare Agency of the Year at Cannes Lions in 2016 and secured a top three global ranking for three consecutive years (2015-2017).
Hindustan Times
36 minutes ago
- Hindustan Times
Auto sales in July 2025: Exports save the day as local car sales enter slow lane
Car sales in India entered the slow lane in July 2025, only to be propped up by higher exports. The demand at dealerships is muted still. WagonR hatchbacks are seen parked at the manufacturing plant of Maruti Suzuki in Manesar. India's largest carmaker continues to restrict new car dispatches to dealerships amid a slump in demand and a rise in unsold inventory.(REUTERS) Indian carmakers shipped 3,40,772 units to dealerships last month as against 3,41,510 units in the year-ago period—registering a decline of 0.2%, according to wholesale data released by the Society of Indian Automobile Manufacturers on Thursday. Exports rose 8.7% year-on-year to 67,292 units during the same time. That compares with 3,98,071 cars produced last month. Essentially, at 4,08,064 units, local car sales and exports outstripped monthly production. 'All vehicle segments posted stable performance in July 2025, though overall sentiments in the passenger vehicles segment has remained subdued so far,' SIAM's Director General Rajesh Menon said in a statement. To be sure, SIAM's auto sales data isn't an indicator of demand on the ground but of how much inventory they stock at dealerships. In reality, the decline is steeper. Retail car sales—calculated as the number of vehicle registrations on the government's VAHAN portal—fell 0.81% year-on-year to 2,97,722 units in July 2025, according to data from the Federation of Automobile Dealers Associations. That's a yawning gap of 43,050 units between demand and supply. 'The Aashaada period and auspicious delivery days, combined with targeted schemes, new-model introductions and aggressive rural marketing, powered hinterland sales that picked up decisively towards month-end,' FADA President CS Vigneshwar said in a 7 August statement. 'Urban demand, however, remained muted due to low enquiry and restrained customer sentiment.' 'With inventory levels steady at around 55 days, calibrated discounting, streamlined finance facilitation and intensified urban outreach will be crucial for festive-season growth.'
