Tata Motors inked an MOU with Meghalaya Rural Bank for small commercial vehicle financing

Syllad | The Rising MeghalayaDecember 28, 2022

Tata Motors, India’s largest commercial vehicle manufacturer, has signed a five-year Memorandum of Understanding (MoU) with Meghalaya Rural Bank, a joint undertaking of Government of India, State Government of Meghalaya and State Bank of India, to bring a set of attractive financial solutions to its customers. With benefits applicable across the Tata Motors small commercial vehicle (SCV) range, this tie-up will aim to facilitate seamless availability of financing for aspiring buyers. Tata Motors will leverage Meghalaya Rural Bank’s strong network across the state of Meghalaya, spanning more than 90 branches and customer touchpoints, to make these solutions accessible for customers.

Tata Motors SCV range has nurtured self-employment in both urban and rural areas by providing a respectable means of livelihood to over 30 lakh Indians. Tata Motors pioneered in the SCV segment, with India’s first four-wheel mini-truck, the Ace, in 2005, and has exponentially evolved with vehicles engineered to cater to varied applications. Addressing the rapid growth in the e-commerce industry, the Tata Ace and Tata Intra are the preferred vehicles for last-mile transportation.

Commenting on this partnership, Tshering Diki, Chairperson – Meghalaya Rural Bank said, “Meghalaya Rural Bank is delighted to ‘connect aspirations’ in the state of Meghalaya via Tata Motors.”

Commenting on the association, Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business, Tata Motors, said, “We are delighted to partner with Meghalaya Rural Bank to make our extensive range of vehicles available to a larger set of customers, with easy financing and flexible repayment options. 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 Meghalaya Rural Bank to continue our dedicated efforts to serve our customers.”

As a market leader in the commercial vehicle space, Tata Motors constantly engages with its customers to assess their needs and requirements on the product and services front, as well as from a finance support perspective. Tata Motors continues to invest in customer-oriented endeavours and initiatives to ensure a smooth and a seamless financing experience to its current and potential customers.