Tata Motors signs MoU with J&K Bank to provide finance for commercial vehicles

Tata Motors, the market leader in Commercial Vehicles industry, has joined hands with J&K Bank to offer products and services to their customers.

According to a statement issued by the Tata Mortors, both the entities will be working together to offer innovative retail finance solutions for the entire range of cargo and passenger carriers to facilitate the purchase of commercial vehicles while ensuring superior operating economics for the end customers.

J&K Bank, with 1000+ branches spread across the country, functions as a universal bank in Jammu and Kashmir. With the launch of “Digital India” campaign J&K Bank has moved most of its products on customer centric technology platforms and has developed a leading edge in playing a significant role in the retail banking space, the statement said. 

On the occasion of MoU signing, Vice President- Sales & Marketing, CVBU, Tata Motors, RT Wasan said, “This is a welcome partnership between two esteemed organisations who have a similar culture of contributing to society which will hugely benefit the customers particularly in J&K. We are absolutely confident that this will help us increase our reach in J&K and help us serve our customers in an efficient and delightful manner.”

Chairman and CEO of J&K Bank, Parvez Ahmed, said, “We are delighted to join hands with Tata Motors and have aligned our organisation structure, processes and systems to bring about an accelerated growth in the retail banking space. This MoU will help us to generate wonderful employment opportunities in J&K and other parts of the country.”

Tata Motors offers end-to-end smart transport solutions starting from sub 1 metric tonne, going upto above 55 metric tonne vehicles in cargo and construct range. The Company also offers the passenger transport range in the country and has the widest sales and service distribution network of 3798 touchpoints. In J&KTata Motors enjoys an 81% market share in truck segment and plans to further extend its share through this important association.