Tata Motors, India’s largest automobile company, market leader in commercial vehicles and among the top three in passenger vehicles, has entered into an agreement with State Bank of India (SBI) for providing channel financing facilities to the Tata Motors dealers. The bank will provide financing for both, the passenger vehicles and commercial vehicles range.
SBI ranks as an important retail financier for Tata Motors and 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. SBI has evolved a new technology platform for achieving benchmark levels of service in Inventory Funding.
State Bank of India (SBI), being India’s oldest bank and a premier in terms of balance sheet size, number of branches, market capitalization and profits, states that, the Electronic Dealer Finance platform will provide best-in-class customer experience to the dealers, thereby effectively partnering Tata Motors in realizing the Company’s growth ambitions.