IDBI Bank and Tata Motors signed an agreement in Mumbai for providing auto finance to prospective customers.
According to a press release issued, Tata Motors and its dealer network would collaborate with IDBI Bank for the purpose of “retail activation” to facilitate the vehicle business. In its turn, the bank would extend finance to eligible customers for Tata Motors’ passenger cars and multi-utility vehicles. The tie-up will be of great benefit to the bank in further strengthening its position in the retail loan space.
The agreement would also help the Tata group company leverage the retail financing strength and reach of the IDBI bank.
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