SBI and Tata Motors enter in deal for Nano booking

SBI and Tata Motors enter in deal for Nano bookingTata Motors has appointed the country's largest lender, the State Bank of India (SBI) as an exclusive booking agent for Nano. The ambitious small car due to launch by Tata group soon, is expected to record decent sales.

The Chief Manager of SBI, Jayanta Kumar Sinha, said on Friday, "SBI has been selected as the sole booking agent for Nano."

However, Mr. Sinha refused to disclose details of deal between SBI and Tata and said that official announcement is likely to come in few days.

A Tata Motors spokesperson, on the other hand, said, "It is premature for Tata Motors to make any comments. The company will make appropriate announcements at the appropriate time."

The small car, with price tag of one lakh, has been in news since the Auto Expo in New Delhi in 2008 amid stiff opposition by opposition parties of West Bengal over land issue, leading to shifting of the project from Singur to Sanand in Gujarat.

The One lakh car was originally due to launch on Durga Pooja but company would now launch it from its Pantnagar and Pune facilities in limited quantities in April.