Chennai, Sep 7: Two-wheeler manufacturer TVS Motor Company has entered into a Memorandum of understanding with private sector HDFC Bank for inventory funding for its dealers.
The agreement features online fund transfers, online repayment, real time viewing of account status and considerably reduces transaction time, the company said in a statement.
As part of this arrangement, HDFC would provide funding to over 600 dealers of TVS Motor Company across the country.
The agreement would enable the retailers to increase their working capital, boost vehicle stocks and enhance retail sales, the statement added. PTI
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