Ashok Leyland, the flagship company of the Hinduja Group and India’s leading commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to support its Medium and Heavy Commercial Vehicle (MHCV) dealer network with competitive and flexible financing solutions.
The MoU was signed by Mr. K. M. Balaji, Chief Financial Officer, Ashok Leyland, and Amitabh Rai, General Manager, Punjab National Bank, in the presence of senior representatives from both organisations.
Under the partnership, PNB will offer customised financial products to Ashok Leyland dealers, including inventory funding and working capital support. The initiative aims to enhance business continuity, improve liquidity, and support growth opportunities for dealers across the country.
Commenting on the collaboration, Mr. Balaji said the agreement will strengthen the dealer ecosystem by enabling convenient access to credit and flexible financing. Ms. Madhavi Deshmukh, National Sales Head, Ashok Leyland, added that the arrangement will simplify financing processes for dealers and improve customer service at the retail end.
Speaking on behalf of the bank, Mr. Amitabh Rai stated, “We are extremely happy to partner with Ashok Leyland. Through our varied financial solutions, our goal is to offer convenient and complete financing choices to the dealers.”
