Tata Motors plans to sell off lending arm, says report
Updated : May 25, 2018 02:52 PM IST
The non-bank lending subsidiary, which focuses on both finance and refinance of vehicles, posted losses in two out of four quarters with non-performing assets reaching 4% in the year ended March 2018, the report said. Bad loans for the concerned arm rose to 26% in 2014.
Tata Motors is planning to invest about $ 6 billion in the next two years, with about $ 5.6 billion on its luxury arm Jaguar Land rover to boost growth.
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