TVS Motor has entered into a memorandum of understanding (MoU) with State Bank of India (SBI) for inventory funding of the auto major's dealerships.

According to the MoU, over 600 TVS dealers from across the country will provide with fundings from SBI in a bit to boost their working capital and increase the vehicle stocks.

TVS Motor President (Marketing) H S Goindi said that this association with SBI is in line with the auto major's overall strategic business plan towards strengthening the working capital of TVS dealers. Their access to such funds at attractive interest rates will help them in growing their dealership and offer better retail services to the customer.