The company, one of the most prominent of a series of Indian firms to have made acquisitions during the liquidity boom, is offering to pay as much as 11 per cent annual interest to members of the public who enter into a fixed deposit scheme with the group.
“Tata Motors invites deposits from the public,” the company said in an advertisement in an Indian newspaper yesterday, adding it would pay “additional interest for senior citizens, shareholders and employees”.
The minimum deposit published was Rs20,000 ($400), but the company did not say how much money it intended to raise from the move.
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