Ashok Leyland, the Indian flagship of the Hinduja Group and country’s leading commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU) with Indian Bank to provide channel finance facilities for M&HCV dealers. This collaboration aims to deliver customized financial solutions benefitting Ashok Leyland’s channel partners.
The MoU was signed by Mr. C. Neelakantan, Head – Treasury and Direct Taxation, Ashok Leyland and Mr. Saurabh Dalmia, Head – Cash Management, Indian Bank in the presence of Ms. Madhavi Deshmukh, National Sales Head – MHCV, Ashok Leyland, and Mr. Ashutosh Choudhury, Executive Director, Ms. Roopali Singh, DGM-CMS Vertical and Mr. Munash Dalal, AGM-CMS Vertical, representatives from Indian Bank. Under this partnership, Indian Bank shall provide comprehensive financial solutions to Ashok Leyland’s M&HCV dealers, addressing their diverse financial needs. The partnership will focus on offering seamless, tailored financing options to support the dealer network.
Mr. Balaji K M, CFO, Ashok Leyland said, “Ashok Leyland is delighted to partner with Indian Bank to offer customized finance solutions to our valued M&HCV dealers. With Indian Bank’s expansive network of 5,880 branches across India, we can cater to our dealers in every region. This strategic partnership will strengthen Ashok Leyland’s market position. We remain committed to delivering exceptional experiences to our customers.”
Ms. Madhavi Deshmukh, National Sales Head – MHCV, Ashok Leyland said, “The strategic collaboration with Indian Bank will deliver exceptional financing solutions to our valued dealers, extending our market reach and reinforcing our commitment to innovation and partner success. This partnership will provide tailored financing solutions designed to meet the unique requirements of our dealers. We remain dedicated to fostering long-lasting relationship with our dealer network.”
Mr. Ashutosh Choudhury, Executive Director, Indian Bank said, “Indian Bank is pleased to partner with Ashok Leyland to provide their dealers seamless and tailored financing solutions. This collaboration reaffirms our commitment to supporting the diverse financial requirements of businesses in the commercial vehicle sector. With Indian Bank’s best-in-class processes, we are confident that more dealers will benefit from this partnership, enabling them to scale their operations and drive business growth.”
The partnership will simplify access to financial solutions for Ashok Leyland’s M&HCV dealers empowering them to manage their working capital efficiently and enhance business operations. With Indian Bank’s customised financing options, dealers will benefit from improved liquidity, faster credit approvals, and competitive interest rates, allowing them to expand their operations seamlessly. By ensuring greater financial flexibility, this collaboration reaffirms Ashok Leyland’s commitment to empower its dealer network while driving sustainable growth in the commercial vehicle industry.
