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Tata Motors on Monday signed a five-year Memorandum of Understanding (MoU) with Equitas SFB, to assist with financial solutions to its customers. With benefits applicable across the Tata Motors small commercial vehicle (SCV) range, this tie-up will aim to facilitate availability of financing for aspiring buyers. It will available at 861 Equitas SFB branches and 550+ CV customer touchpoints. 

Tata Motors launched India’s first four-wheel mini-truck, the Ace, in 2005, which became a huge hit in the commercial space. “Addressing the rapid growth in the e-commerce industry, the Tata Ace and Tata Intra are the preferred vehicles for last-mile transportation," it said.

Rohit Gangadhar Phadke, Senior President & Head – Retail Assets, Equitas Small Finance Bank said “We are happy to be associated with Tata Motors Limited at such an early stage of the Bank’s journey. Through this partnership, Equitas would reach a large set of financially excluded segments to help them buy their first commercial vehicle from Tata Motors Limited. Equitas Small Finance Bank has always believed in uplifting the underserved and unserved segment of the society to drive financial inclusion."

Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business Unit, Tata Motors, said, “We are delighted to partner with Equitas SFB, one of India’s leading small finance banks, to make our extensive range of vehicles available to a larger set of customers, with easy financing and flexible repayment options. With an extensive 3 million customer database and sustained years of expertise in the sector, Equitas SFB will help us extend beneficial offerings to CV customers across the nation. Tata Motors has consistently placed customer welfare at the centre of its endeavours, striving to bring to them profitable value propositions. The Ace and the Intra range have redefined the last-mile transportation, with their comfort, reliability and low cost of ownership. With this partnership, we will join forces with Equitas SFB to continue our dedicated efforts to serve our customers."

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