For Tata's small car Nano, loan can be availed at an interest rate of 14 to 14.75 per cent from the State Bank of India (SBI), India's largest bank, as per some unofficial reports.

The bank would cover 70 per cent of the price of the car for five year tenure. Recently, general managers of all branches of SBI discussed the finance matters with company's officials in a bid to provide car finance in easy and hassle free manner, targeting common man in the rural segment of country.

Unitech, the country's second largest realtor by market capitalisation, has finally sold its 200-key Gurgaon Marriott Courtyard hotel property to Roop Madan, a high net worth individual (HNI) based in Delhi.

Roop Madan is the managing director of Sanya Motors, the official dealer of Tata Motors in New Delhi with three car showrooms. Sources said that Madan also owns a small realty venture, Sanya Hospitality, and is one of the investors in the Logix group.

India's third largest car manufacturer, Tata Motors entered in an agreement with public sector bank, the Central Bank of India, to avail finance facilities for all categories of vehicles.

The bank would offer loan at interest rate of 10.5 per cent for 3 years tenure and 11.5 per cent for more than 3 years, covering 85 per cent of the road price of car.

Tata group owned Tata Motors and Bangalore based Corporation Bank has signed a deal aimed to provide easy finance facilities to customers for purchase of passenger cars. The deal may help the company, facing low demand in auto sector under the impact of global slowdown and recession like conditions across the world.

Tata Motors may launch its ambitious small car Nano, the cheapest car of world, on March 3, the day of birth anniversary of Tata Group founder, Jamsetji Tata.

Its first recipient may be a celebrity from business world, political class, film industry or social sector.

The booking for much awaited small car would start from the end of February, with an amount of around Rs 70,000. However, the official spokesperson of Tata Group declined to disclose any details and said, "We have not announced an official date or any marketing plans so far."

Tata Motor's payments to some vendors are getting delayed, showing the tough situations being faced by India's top bus and truck maker, under the impact of global slowdown.

Ravi Kant, the managing director of company, said, "Yes, there is a delay... there would be a delay. I'm telling you we are in a difficult situation... the whole industry are."

However, he declined to disclose the quantum of outstanding dues that may be more than 12 billion rupees ($245 million), according to reports published in media.