IndusInd Bank Ltd. and Tata Motors have entered into an agreement, where IndusInd Bank will provide channel finance facilities to Tata Motors’ dealers.
The dealers of Tata Motors will now have access to ready upstream finance from IndusInd Bank to meet their working capital requirements in addition to the existing retail finance arrangements. Mr. R. Ramakrishnan Vice President (Sales & Marketing, Commercial Vehicle Business Unit, Tata Motors Limited) said, “Tata Motors Commercial vehicle has a good share of business in the retail asset funding through IndusInd Bank and going forward, we want to leverage this tie up to garner even more business in the retail loan segment. We would also like to provide our Channel partners with the inventory funding from IndusInd Bank at reasonable and competitive rates."
IndusInd ranks in the top retail financiers for Tata motors commercial vehicle segment today. This tie up is a part of the strategic focus of IndusInd Bank in developing the supply chain business. Mr Suhail Chander, Head Corporate & Commercial Bank, IndusInd Bank said, “We, at IndusInd, are already amongst the largest Retail Financier of Commercial vehicles in the country. A Channel Finance facility to the dealers is a natural corollary to this business. By introducing technology, we aim to create value in this partnership between the Dealer, Tata Motors and IndusInd Bank.â€
