Tata Motors enters into a tie-up with Union Bank of India for channel financing

Mumbai,
Mumbai, September 23, 2009: Tata Motors and TML Distribution Company Ltd. (TMLDC) have entered into an understanding with the Union Bank of India to provide an added facility to Tata Motors' dealers for funding of their purchases of the company's cars and utility vehicles. With this arrangement, UBI will be one of the preferred channel financiers of Tata Motors.

Tata Motors, TMLDC and UBI have mutually agreed to pool their resources together to make accessible organised finance at competitive rates to the Tata Motors dealers across the country.

UBI's wide range of banking services & financial products include finance for purchase of vehicles. UBI has a large network of over 2,650 branches across the country.

Source:www.tatamotors.com