Chennai- Ashok Leyland Limited., of the Hinduja Group, a leading commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Indian Bank to offer channel finance facilities to its Medium and Heavy Commercial Vehicle (M&HCV) dealers. This strategic collaboration is aimed at providing customized financial solutions to support and strengthen Ashok Leyland’s dealer ecosystem.
The MoU was signed by Mr. C. Neelakantan, Head – Treasury and Direct Taxation, Ashok Leyland, and Mr. Saurabh Dalmia, Head – Cash Management, Indian Bank. The signing took place in the presence of Ms. Madhavi Deshmukh, National Sales Head – M&HCV, Ashok Leyland, and senior representatives from Indian Bank including Mr. Ashutosh Choudhury, Executive Director, Ms. Roopali Singh, DGM – CMS Vertical, and Mr. Munash Dalal, AGM – CMS Vertical.
As part of this partnership, Indian Bank will offer a suite of comprehensive financial solutions designed to meet the varied financing needs of Ashok Leyland’s M&HCV dealers. The focus will be on delivering seamless, customized funding support to enhance dealer operations and growth.
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 between Ashok Leyland and Indian Bank will simplify access to finance for M&HCV dealers, enabling better working capital management and smoother business operations. With customized solutions, dealers will benefit from improved liquidity, quicker credit approvals, and competitive rates. This collaboration underscores Ashok Leyland’s commitment to empowering its dealer network and promoting sustainable growth in the commercial vehicle sector.
