Tata Motors and IndusInd Bank have inked a deal to provide further finance facilities to Tata dealers.

The agreement will see Tata retailers access finance from IndusInd Bank to meet capital needs in addition to existing retail financials arrangements.

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“Tata Motors Commercial vehicle has a good share of business in retail asset funding through IndusInd Bank and we want to leverage this tie up to garner even more business in the retail loan segment,” said Tata VP sales and marketing R Ramakrishnan.

“We would also like to provide our channel partners with inventory funding from IndusInd Bank.”

Indus Bank transaction banking head Ramesh Ganesan added there was an increased need for financing in the sector and the bank would deliver the product “through a technological platform enabling integration with the manufacturer and the dealers, thus speeding up credit delivery at a reduced cost.

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