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Tata Motors said on Tuesday that it has entered into an agreement with the country's largest lender, State Bank of India (SBI), for providing channel financing facilities to its dealers.
While both the passenger and commercial vehicle segments will have access to finance, dealers of Tata Motors will now have access to ready upstream finance for their working capital requirements in addition to their existing retail finance arrangements.
“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,” said a Tata Motors statement.
SBI has evolved a new technology platform for achieving benchmark levels of service in inventory funding.
According to SBI, the electronic dealer finance platform will provide best-in-class customer experience to the dealers.
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