Tata Motors, SBI tie-up to finance dealers

April 19th, 2011 - 10:14 pm ICT by IANS  

State Bank of India Kolkata, April 19 (IANS) Tata Motors, India’s largest automobile company, has entered into an agreement with the State Bank of India (SBI) for providing financing facilities to the company dealers.

According to a company release here Tuesday, the bank will provide financing for both passenger vehicles and commercial vehicles range.

The dealers of the company will now have access to ready upstream finance from SBI to meet their working capital requirements, in addition to their existing retail finance arrangements.

“This tie-up is a further step to achieve 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 release said.

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