KOLKATA, OCT 13 : Indian Bank on Friday signed MoUs (Memorandum of Understanding) with Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd to provide inventory financing solution to the authorized dealers of TMPVL & TPEML through its digital SCF platform, for both electric vehicles as well as other passenger vehicles.

“ We are delighted to partner with Tata Motors, a leader in the automotive sector, offering a full suite of mobility choices for passenger vehicles including new-age electric vehicles. Indian Bank with its 5819 branches and trusted by over 10 crore customers is well positioned to provide solutions to TML in its rapid growth journey. Indian Bank Supply-chain finance will provide easy access to working capital finance to the dealers of TML, at favourable terms for driving their business growth, ” Indian Bank executive director Ashutosh Choudhury said.

“We are extremely elated to associate with Indian bank for this financing program for our authorized passenger vehicle dealers. We are positive that this initiative will further support our vision to achieve the goal of greater choices in PVs, green mobility and bolster sustainability,” Tata Motors Passenger Vehicle Ltd vice-president Ramesh Dorairajan said after signing the MOU.(UNI)