Tata Motors Finance and Bank of India ink co-sourcing pact for CV financing

Tata Motors Finance and Bank of India have entered into a co-sourcing agreement for enhancing financing accessibility for commercial vehicles. 

The agreement is aimed at enhancing financing accessibility for commercial vehicle owners and fleet operators across the country. The co-sourcing arrangement will capitalize on the strengths of both entities, facilitating a more efficient, and reliable customer experience to last mile end-users of all commercial vehicle segments, the press release noted. 

"Bank of India is committed to supporting the various segments of the economy with tailored and targeted financial offerings. By leveraging TMF’s extensive on-ground network and decades-strong market presence, we are confident about further expanding our last-mile reach," noted Ashok Kumar Pathak (Chief General Manager) - Bank of India. 

Neeraj Dhawan, Managing Director (Designate), Tata Motors Finance, said, "Given the capital-intensive nature of the commercial vehicle and logistics sector, our collaborative strength opens-up numerous avenues to efficiently address and meet the diverse, recurring funding requirements of the sector."