December 12th, 2008 
Tushar Mathur
Tata Motors Ltd maker of Indica and Indigo cars has launched a fixed deposit scheme. The company announced the scheme through a newspaper advertisement on Monday.
A company has launched the scheme in order to raise money from the public at a time of serious liquidity crunch credit seizure and as the banks is not willing to lend the money.
Tata Motors will be offering 10 per cent for a one year deposit with senior citizens getting half a percent more.
Company has taken this move when it is fighting a mounting battle to raise cash to pay down the debt raised during the acquisition of Jaquar Land Rover last year.
Tata Motors stocks climbed down to near its 52-week low of Rs 122. At
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