Tata Motors recently announced about their tie-up with State Bank of India (SBI). Tata has formed an agreement with SBI so as to provide a source of financing facilities for their vehicle dealers. The bank will offer financing for commercial vehicles as well as passenger vehicles. Tata Motor Dealers will not get access to a ready and upstream finance through SBI so as to meet their requirements of working capital, along with their existing arrangements of retail finance. Tata Motors ranks SBI as a significant retail financier today.
This tie up will be another step for the company towards achieving a chain support of holistic value. This will help to meet the growing aspirations of the company. This will also help in improving the SBI retail market expansion. SBI has also created a new platform of technology which will help them in achieving their set goals of service when it comes to Inventory Funding. SBI states that their new platform known as the Electronic Dealer Finance will help in providing the top most customer experience to Tata Motors dealers. This will also help them in effectively partnering with Tata Motors in making the growth aspirations of the company a reality.