Federal Bank, Tata Motors in tie-up to finance vehicles

Private lender Federal Bank Monday said it has signed an agreement with the auto major Tata Motors to finance the latter's commercial vehicles through an alliance partnership.

The partnership can be termed as a strategic alliance between one of the major private sector banks, having 823 branches and the biggest vehicle manufacturer, having over 60 per cent market share in commercial vehicle segment of our country, Federal Bank said in a statement.

"We see vast opportunities in servicing our SME customers through this relationship," Federal Bank Executive Director PC John said.