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CO:PRO:2014:04:PRESS: 2 11th April, 2014

PRESS RELEASE Central Bank of India & Tata Motors Ltd. signs MOU for commercial vehicle finance

Central Bank of India and Tata Motors Ltd signed The MOU for financing of commercial vehicles in India.
This MOU was signed by Mr. Vijai Misra , GM (MSME) Central Bank of India and Mr. Sudhanshu Verma. Head -
Retail Channel Finance and Insurance Tata Motors Ltd. (CVBU).
Central Bank of India with their 4500 Branches will increase their lending to priority sector and provide collateral free loan to Micro and Small enterprises to create a strong force which would provide an encouraging platform for prospective customers of both organisations i.e. to avail Bank's services for financing Tata Motors' products. With a huge potential untapped in the rural areas, this will give an opportunity to both the organizations to leverage their products and reach in the hinterland.

Central Bank will provide loan up to 85% to eligible borrowers on merit for a maximum tenure of 5 Years at a very competive rate of interest.

Photo Narration: Left to Right: MS Sulbha Pande, DGM ,MSME, Mr. Vijai Misra , GM (MSME) Central Bank of India, Mr. Sudhanshu Verma Head - Retail Channel Finance and Insurance Tata Motors Ltd. (CVBU) and Mr Arun Nawal (Regional Head West) Retail Channel Finance & Insurance seen in the picture on the occasion of signing of MOU by Central Bank of India and Tata Motors Ltd for financing of commercial vehicles in India.

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