KATHMANDU, JUNE 12
Asian Paints Nepal and Nabil Bank have recently joined hands to support the channel partners of Asian paints across Nepal to give them the benefit of 'channel financing'.
The memorandum of understanding (MoU) was signed by Gopalakrishnan G, country director of Asian paints Nepal, and Gyanendra Prasad Dungana, CEO of NABIL Bank.
Channel financing is a programme that offers crucial liquidity support from banks, providing a much-needed boost to businesses that have a challenge to manage working capital in these challenging times. Dealers can now access funds at competitive interest rates, empowering them to navigate the economic downturn more effectively. Also, this programme allows dealers to avail higher loan limits by providing collateral, giving dealers the flexibility they need to sustain and grow their businesses.
Other benefits of the programme include lower loan processing fees compared to standard loan processing costs. Moreover, dealers can access ad hoc or temporary limits on top of their availed limit to cover festive and seasonal requirements.
Recognising the need to incentivise dealers further, banks have introduced attractive offers to encourage switching. Dealers can now switch banks at a low cost, while also benefiting from free credit cards and critical illness insurance coverage. This not only enhances the value proposition for dealers but also strengthens their relationship with the banking institution, as per a media release.
A version of this article appears in the print on June 13, 2023, of The Himalayan Times.