New Delhi: The biggest slowdown in the country's recession has been on the Auto sector. Due to which many auto companies have stopped their production for some time. Companies had to shut down production due to a decrease in new demand. This has a negative impact on employment. Many auto companies have done large scale layoffs for cost-saving. Meanwhile, the giant carmaker has taken an important step to generate market demand. Japanese company Hyundai Motor India Limited has signed an agreement with Bank of Baroda to provide preferred financiers to its dealers and consumers.

Under the agreement, the bank will create a detailed financing structure for customers and dealers, which will help the bank expand its presence in the Hyundai Motor India Limited network. Hyundai Motor India Ltd MD and CEO SS Kim said, 'We hope this agreement will meet the inventory funding needs of our dealer partners. Bank and Baroda MD and CEO P.S. Jayakumar said, "There is huge potential available in the auto loan / dealer finance / commercial finance segment, we hope this agreement will help increase our penetration in the market." Let us tell you that the government has also appealed to banks to give loans on a large scale. So that demand can be created in the market.

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