UCO Bank Partners Tata Motors to Offer Inventory Funding to Dealers
MUMBAI: State-owned UCO Bank has signed a memorandum of understanding (MoU) with Tata Motors Passenger Vehicles Ltd (TMPVL) and Tata Passenger Electric Mobility Ltd (TPEML) to provide customized inventory financing solutions to the automakers' authorized dealers.
The partnership will enable dealers to access working capital support through UCO Bank's Supply Chain Finance Scheme, helping improve inventory management, cash flow efficiency and business operations across Tata Motors' passenger vehicle network.
The agreement is aimed at strengthening the automotive supply chain ecosystem and supporting sustainable growth across conventional and electric vehicle segments.
The MoU was signed by Shashi Kant Kumar, General Manager and Zonal Head, Mumbai Zone, UCO Bank, and Anindya Paul, Senior General Manager, Tata Motors Passenger Vehicles, in the presence of senior executives from both organizations.
Among those present at the signing ceremony were Sourabh Roy, Senior General Manager, Tata Motors Passenger Vehicles, and Manish Kumar, Deputy General Manager, UCO Bank, Mumbai Zone, along with other officials from the bank and the automobile company.
Under the arrangement, UCO Bank will offer tailored inventory funding solutions designed to improve dealers' working capital efficiency and facilitate smoother business operations.
The collaboration also supports the growing financing requirements of Tata Motors' expanding passenger vehicle and electric mobility businesses in India.
UCO Bank said the partnership reinforces its strategy of delivering innovative financial solutions, deepening industry collaborations and improving access to credit for businesses across key sectors of the economy.
The agreement comes as Indian banks increasingly expand supply chain financing offerings to support dealers and distributors in the fast-growing automobile sector, particularly amid rising demand for passenger and electric vehicles.