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Tata Motors said on Tuesday that it has tied up with public sector lender State Bank of India for providing financing facilities to its dealers.
“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,” the homegrown auto major said in a statement.
The bank will provide financing for both the passenger and commercial vehicles range, it added.
“SBI ranks as an important retail financier for Tata Motors today and 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,” Tata Motors said.
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