Tata Motors and State Bank of India (SBI) plans to forge a special alliance for extending car loans to buyers of Nano. As per the understanding, SBI will provide car loan facility to Nano buyers across the country. Tata nano dealers will accept only cheques issued by SBI. Also anyone who wants to buy without a loan also will have to issue demand draft of SBI in fa-vour of Tata Motors.
SBI which has 11,000 branches and its seven associate banks which have a network of 2,000 branches will be a boon to the Nano buyers. A win-win partnership is in line.