Mumbai: IDBI Bank and Tata Motors, today
signed an agreement for providing auto finance to prospective
As per the memorandum of understanding signed (MoU),
Tata Motors and its dealer network would collaborate with IDBI
Bank for the purpose of "retail activation" to facilitate the
vehicle business, a press release said.
The bank would extend finance to eligible customers
for Tata Motors` passenger cars and multi-utility vehicles.
The tie-up will benefit the bank in further
strengthening its position in the retail loan space.
The agreement would help the Tata group company
leverage the retail financing strength and reach of the bank.