Tata Motors Passenger Vehicles Ltd.

Tata Motors has signed a three-year Memorandum of Understanding (MoU) with the State Bank of India (SBI), to offer financial assistance for the purchase of the company's range of small and light commercial vehicles. The collaboration with State Bank of India (SBI) will allow Tata Motors' commercial vehicle (CV) customers to avail of loans in a hassle-free manner as well as access SBI's unique technology-laden offerings.

It will also introduce easy loan structured schemes which will help mitigate the cost difference between the BS-IV and the BS-VI vehicles for both, down payment as well as the EMI of the vehicle. The two business entities will exercise SBI's Contactless Lending Platform technology to ensure uniformity, transparency and a reduced turnaround time in the loan approval process.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.