Tata Motors, the largest vehicle maker in the country, has tied-up with leading PSU bank State Bank of India for providing easy finance options for its passenger as well as commercial vehicles.
The company said in a statement, “The dealers of Tata Motors will now have access to ready upstream finance from SBI to meet their working capital requirements in addition to their existing retail finance arrangements.”
As per the company, SBI ranks as an important retail financier for Tata Motors and the latest tie-up will prove a big step ahead in the direction of achieving a holistic value chain support which will help the company achieve its growth aspirations, and improve the bank’s retail penetration. SBI has evolved a new technology platform for achieving benchmark levels of service in Inventory Funding.
The SBI is currently the largest PSU bank in the Indian market. The Electronic Dealer Finance platform of the bank is focusing to provide best customer service to the Tata Motor dealers through this joint venture. The tie-up will certainly help Tata Motors in boosting its sales, as the customers will be getting easy finance on comparatively low interest rates.
