Indian Bank partners with Tata Motors to boost supply chain finance

Indian Bank has signed Memorandums of Understanding (MoUs) with Tata Motors Passenger Vehicles Ltd (TMPVL) and Tata Passenger Electric Mobility Ltd (TPEML), both subsidiaries of Tata Motors Limited. Under this partnership, Indian Bank will provide inventory financing solutions through its digital Supply Chain Finance (SCF) platform to the authorized dealers of TMPVL and TPEML, covering both electric vehicles and other passenger vehicles. The collaboration aims to provide working capital finance to Tata Motors’ dealers, promoting business growth and reducing inventory financing costs. It also facilitates transparent tracking of transactions, repayments, outstanding balances, and related financial data. This initiative aligns with Tata Motors’ vision of expanding passenger vehicle choices, promoting green mobility, and enhancing sustainability.