Excelsior Correspondent
JAMMU, Jan 31: To discuss ways to enhance business growth and improve the ease of doing business between automobile dealerships and banks, a delegation of FADA, led by its Chairperson Sanjay Aggarwal, along with FADA Regional Directors and owners of Automobile Dealerships, met the Heads of Lead Banks of Jammu & Kashmir.
The delegation held meetings with Sunit Kumar, Chief General Manager, J&K Bank; Jayant Mani, deputy General Manager, State Bank of India and Anil Sharma, Circle Head, Punjab National Bank.
During the meetings, Aggarwal highlighted various issues faced by automobile dealers in Jammu & Kashmir and emphasized the need for close coordination between banks and automobile dealerships for mutual benefit.
He stated that stronger collaboration would help both sectors grow; strengthen B2B relationship while also providing better services to customers.
Aggarwal suggested that banks could place promotional material for products such as inventory funding, corporate cards, and POS machines at automobile dealerships, while dealerships could similarly display their promotional material at bank branches.
Key issues such as improving service delivery and providing vehicle financing at more competitive interest rates to customers were also discussed.
The delegation emphasized that enhanced collaboration between banks and automobile dealers would directly benefit customers by ensuring faster loan approvals, transparent processes and access to competitively priced vehicle financing options.
Improved coordination would help customers enjoy a seamless purchase experience, supported by efficient banking services, digital payment solutions and tailored financial products at dealership touchpoints.
Aggarwal further proposed that such interactions between dealers and banks should be held on a regular basis to better understand challenges and bottlenecks and to ensure their timely resolution.
The Heads of the banks acknowledged the concerns raised by the FADA Chairperson and assured prompt action for mutual benefit.
They reiterated their commitment to taking all necessary steps in the interest of dealers, banks and customers alike.
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