Country's largest carmaker Maruti Suzuki India (MSI) Ltd. has joined hands…
2022
Country's largest carmaker Maruti Suzuki India (MSI) Ltd. has joined hands with which bank to offer retail financing schemes to its customers?
- A.
HDFC Bank
- B.
Axis Bank
- C.
ICICI Bank
- D.
None of these
Attempted by 9 students.
Show answer & explanation
Correct answer: B
Concept
Current-affairs questions on corporate tie-ups test recall of a specific announcement: which two named entities partnered, for what purpose, and when. The key is to match the exact framing in the question (here, a carmaker joining hands with a bank to offer retail financing schemes) to the corresponding news event, rather than guessing the most famous bank.
Application
In July 2020, Maruti Suzuki India Ltd., the country's largest carmaker, announced a collaboration with Axis Bank to offer retail financing schemes to its customers. The schemes included 100% on-road funding for salaried buyers, step-up EMI plans, balloon-EMI options and low starting EMIs, designed to ease repayment during the post-pandemic slowdown. Hence the correct answer is Axis Bank.
Cross-check
Axis Bank is one of Maruti Suzuki's key private-bank partners for both dealer inventory funding and retail financing, which confirms the match. The other listed private banks run their own auto-loan products but were not the named partner in this particular announcement, so they do not fit the question's framing.