Tata Motors has signed a five-year Memorandum of Understanding (MoU) with Equitas SFB, one of the country’s largest small finance banks, to bring a set of attractive financial solutions to its customers.
With benefits applicable across the Tata Motors small commercial vehicle (SCV) range, this tie-up will aim to facilitate seamless availability of financing for aspiring buyers. Tata Motors will leverage Equitas SFB’s strong network across the country, spanning 861 branches and 550+ CV customer touchpoints, to make these solutions accessible for customers, it said in a press release.
Rohit Gangadhar Phadke, Senior President & Head – Retail Assets, Equitas Small Finance Bank said “We are happy to be associated with Tata Motors Limited at such an early stage of the Bank’s journey. Through this partnership, Equitas would reach a large set of financially excluded segments to help them buy their first commercial vehicle from Tata Motors Limited.”
Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business Unit, Tata Motors, said, “With an extensive 3 million customer database and sustained years of expertise in the sector, Equitas SFB will help us extend beneficial offerings to CV customers across the nation. With this partnership, we will join forces with Equitas SFB to continue our dedicated efforts to serve our customers.”
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