Nabil Bank to provide finance facility to Tata Genuine Parts and Oil retailers
KATHMANDU:Nabil Bank will offer affordable and convenient financing to Tata Genuine Parts and Tata Motors Genuine Oil sellers.
Sipradi Auto Parts, the exclusive official distributor of Tata Genuine Parts and Tata Motors Genuine Oil in Nepal, and Nabil Bank, Nepal's premier bank, have agreed to collaborate.
The deal was signed by Sipradi Autoparts Senior General Manager Yuvraj Budhathoki and Nabil Bank SME and Microfinance Head Amit Shrestha in the presence of Sipradi Company Chief Executive Officer Rajanbabu Shrestha and Tata Motors International Business Head Rakesh Mittal.
Retailers and Tata Gurus from the Kathmandu Valley were also in attendance.
According to the arrangement, Nabil Bank will now supply Sipradi Autopart stores with simple and low-cost financing.
Retailers are said to be ecstatic about the arrangement, despite the country's weak economy.