Tata Motors on Thursday said it has tied up with Jammu & Kashmir Bank for retail finance.
The auto major has inked a two-year memorandum of understanding (MoU) with Jammu & Kashmir Bank, the largest commercial vehicle financier in the union territory of Jammu and Kashmir, in an effort to offer financing options to its customers.
"This partnership, with J&K Bank, will go a great distance in easing the vehicle financing process for our customers. It will also add impetus to the development of the union territory with Tata Motors' wide range of products in the cargo, passenger, and construction segments," said Tata Motors Executive Director and President (Commercial Vehicle Business Unit) Girish Wagh said in a statement.
The company will leverage J&K Bank's experience and reach, ensuring seamless availability of financing with combined efforts, he added.
"We see arrangement with Tata Motors as an opportunity to ensure consistency in availability of wide-ranging and quality end-to-end financial solutions to our customers," said J & K Bank Chairman and Managing Director R K Chhibber said.