OREANDA-NEWS. February 20, 2012. Central Bank of India signed a MOU with Tata Motors Ltd. on 17th February, 2012 for financing their commercial vehicles in India.The relationship goes back to the inception of central Bank of India

This MOU was signed by Mr. Umesh Kumar Singh, GM (MSE) Central Bank of India and Mr. Sudhanshu Verma. Head - Retail Channel Finance and Insurance Tata Motors Ltd. (CVBU).

Central Bank of India with their 4000 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.