Ashok Leyland, PNB partner to boost dealer financing

In order to improve financing alternatives for its Medium and Heavy Commercial Vehicle (MHCV) dealers, Ashok Leyland, the flagship firm of the Hinduja Group and one of India's leading commercial vehicle manufacturers, has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB).

In front of senior personnel from both companies, KM Balaji, Chief Financial Officer of Ashok Leyland, and Amitabh Rai, General Manager of Punjab National Bank, formally signed the agreement.

PNB will provide Ashok Leyland's dealer network with customized financing solutions through this partnership, meeting their working capital and inventory funding needs.

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Enhancing liquidity, expediting financing access, and assisting dealers in maintaining company expansion are the objectives of the program.

Ashok Leyland's large dealer network and PNB's statewide reach and affordable financing alternatives are combined in this agreement to improve network-wide operational effectiveness and business continuity.

Speaking about the collaboration, Mr Balaji said, “This partnership enables us to provide our dealers with a stronger financial foundation through flexible and accessible funding options. With PNB’s extensive reach and attractive terms, we aim to drive sustainable growth within our ecosystem.” Madhavi Deshmukh, National Sales Head at Ashok Leyland, added that the tie-up would enhance dealer convenience and improve service delivery.