Karnataka Bank, Tata Motors ink pact

MANGALORE: City-based Karnataka Bank Ltd has joined hands with M/s Tata Motors Ltd, Mumbai, for financing customers who intend to purchase cars and other light motor vehicles manufactured by the latter.
Bank will provide hassle free finance on easy terms to persons availing finance under this MoU. Loans will also be available under CGTMSE scheme to eligible customers and no collateral security/guarantee would be insisted for such loans.
MS Mahabaleshwara, General Manager (credit-retail finance division) of Karnataka Bank Ltd and Ramesh Dorairajan, head-retail, channel finance and Insurance, Tata Motors Ltd, signed the MoU at the bank's head office here.
The bank has over 500 branches and M/s Tata Motors has over 700 touch points, across India. Senior officials of the Bank and Tata Motors Ltd were present.