Mumbai , Domestic auto major Tata Motors today welcomed the State Bank of India&aposs move of freezing interest rates on new car loans at 10 per cent for one year and said that this should help increase automobile sales.
"We welcome the move. This should help the automobile industry to boost up sales," Tata Motors&aposspokesperson told PTI here.
"We hope other banks will also follow suit,"he added.
SBI said the new rates would be applicable to all customers taking loans between February 23 and May 31, 2009.
Source : indopia.in (2/20/2009)