CHENNAI: Indian Bank signed MoUs with Tata Motors Passenger Vehicles Ltd (TMPVL) and Tata Passenger Electric Mobility Ltd (TPEML) wholly owned subsidiaries of Tata Motors Ltd. Under this partnership, the Bank will provide inventory financing solutions to dealers of TMPVL and TPEML through its digital SCF platform, for EVs and PVs.

Ashutosh Choudhury, Exec Director, Indian Bank, said, “Indian Bank supply-chain finance will provide access to working capital finance to TML dealers for driving growth.” Saurabh Dalmia, CMS Vertical Head added that Indian Bank’s Supply-chain Finance platform will bring down the inventory financing costs for Tata Motors dealers.