State Bank of India (SBI) is eyeing a significant stake in Tata Motors Finance, a top bank official said.
"We are looking at the deal -- of investing in it (Tata Motors Finance)," SBI Chairman O P Bhatt told reporters on the sidelines of a conference here today.
Tata Motors Finance is the vehicle-financing arm of the Ratan Tata-led enterprise, Tata Motors.
"Our investment committee would like SBI to partner in the deal and invest some amount. Before that, however, we need RBI clearance," Bhatt said.
The public sector lender would pick-up a significant stake but not a majority in the Tata group company, he said.
The deal would give SBI a huge synergy in terms of the commercial business of buses and trucks, he said, adding "we will pick up a significant stake but not majority stake."