Tata Motors has joined hands with State Bank of India (SBI) for providing channel financing facilities to Tata Motors dealers. The bank will provide financing for both, the passenger vehicles and commercial vehicles range.
The Tata Motors dealers will now have access to ready upstream finance from SBI to meet their working capital requirements in addition to their existing retail finance arrangements.
SBI is cuurently an important retail financier of Tata Motors and this tie up further strengthens a value chain support which will help the company achieve its growth aspirations while improving the Bank’s retail penetration.
SBI has carved out a new technology platform for achieving benchmark levels of service in Inventory Funding. According to SBI, the Electronic Dealer Finance platform will provide the best-in-class customer experience to the dealers, thus effectively partnering Tata Motors in realizing the Company’s growth ambitions.
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