Maruti, SBBJ Tie Up For Joint Product Promotion  ( August '9,2003, FE)

In order to give a major fillip to its expanding market, auto major Maruti Udhyog Ltd (MUL) has tied up with State Bank of Bikaner and Jaipur (SBBJ) in a joint promotion excercise for each others product.

“The final aim is to bring Maruti productline closer to the customer wherever they are,” said MR Jagdish Khattar at the signing in ceremony. The tie-up is being seen as a step ahead for both the companies in terms of making deeper penetration in the state of Rajasthan of both the products. Stating that India was still behind our neighbours like Sri Lanks and Pakistan, Mr Khattar said that India had an average of six cars per 1,000 households while Sri Lanka had 12 per 1,000 households.

Speaking on the occassion, Srikanthan, chief general manager, SBBJ, said that the alliance between the two does not restrict the partnership in only Rajasthan but it would be available right across the country in all its 805 branches. In a similar manner, MUL would be promoting SBBJ products in all its 253 outlets in 166 cities, according to official sources. The SBBJ product plans to offer seven year period loans at 10.5 per cent per annum interest rate which would have waiver of processing fees and carry no hidden costs.