Tata Motors Finance and Bank of India Join Hands for Commercial Vehicle Financing

8 Oct 2024 , 04:11 PM

Tata Motors Finance (TMF) and Bank of India entered into a co-sourcing agreement to enhance financing options for commercial vehicle owners and fleet operators across India.

The partnership aims to improve access to finance for last-mile customers by leveraging the combined strengths of both institutions. This collaboration is expected to deliver faster and more efficient financial services to commercial vehicle operators.

Ashok Kumar Pathak, Chief General Manager of Bank of India, stated that the partnership with TMF will help co-create tailored financing solutions for the Commercial Vehicle industry.

The agreement is designed to streamline processes and enhance service delivery, strengthening the relationship between both organizations.

Neeraj Dhawan, Managing Director (Designate) of Tata Motors Finance, emphasized the shared commitment to driving financial excellence within the Commercial Vehicle ecosystem.

Dhawan added that the partnership opens new avenues to address the recurring funding needs of the capital-intensive commercial vehicle and logistics sector.

Tata Motors Finance, founded in 1957, is a leading financier for Tata Motors’ commercial vehicles and operates through more than 400 branches across India.