In order to expand its business to the semi urban and rural India, Maruti Suzuki India, largest car manufacturer in the country has tied up with Shriram City Union Finance with an initial allocation of Rs 1,000 crore.

The tie-up with Shriram would focus on lending out financial assistance to entry level cars from Maruti portfolio including Maruti-800, Omni and Alto models of company. The tie-up is mainly a joint initiative of the two companies to provide competitive car finance to people in Tier-II and Tier-III cities across the country, said in a statement.

R S Kalsi, MSI, Chief General Manager said that we are keen to make our presence felt in the rural and semi urban market by expanding our business through financing of entry level cars of Maruti. We also have the right products and good network across the country to support and implement it successfully throughout the country. It was our first step towards our commitment to provide hassle free and transparent financial assistance and options to the rural masses to buy small cars, he added.

Expressing his happiness over this tie-up with Maruti Suzuki, Subhasri Sriram, City Executive Director of Shriram City Union Finance said that initially, we have allocated Rs 1,000 crore for four-wheeler financing. We would like to see this tie-up with Maruti would benefit a large number of rural people and also to the company as well.

Now, the financial assistance will be given to the rural customers of Maruti who are residing in Kerala, Karnataka, Tamil Nadu and Andhra Pradesh. After going through the response to this program, Maruti will extend it to the other states.