Bengaluru, 5 September, 2023: Ashok Leyland, the Indian flagship of the Hinduja Group and country’s leading commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU), with Bandhan Bank to enter into a strategic vehicle financing partnership for its customers. This MoU will enable both Ashok Leyland and Bandhan Bank to offer customized financial solutions to them.
The MoU was signed by Mr. K.M. Balaji, CFO, Ashok Leyland and Mr. Rajinder Babbar, Executive Director & Chief Business Officer, Bandhan Bank in the presence of Mr. Sanjeev Kumar, President and Head- MHCV, Ashok Leyland. Under this partnership, Bandhan Bank will be able to provide end to end financial solutions to the customers of Ashok Leyland. The partnership will focus on meeting customer needs by providing vehicle loans with convenient monthly repayment plans tailored to their preferences.
Mr. K.M. Balaji, Chief Financial Officer, Ashok Leyland said, “Ashok Leyland is delighted to partner with Bandhan Bank to provide attractive financing solutions to our customers. This strategic partnership will strengthen Ashok Leyland’s market position. Our products, featuring innovative technology, offer industry-leading total cost of ownership, ensuring maximum profitability for our customers. We remain committed to delivering exceptional customer experiences.”
Mr. Sanjeev Kumar, President-M&HCV, Ashok Leyland said, “At Ashok Leyland, we are dedicated to continuously enhancing our customers’ experience and delivering greater value. With the combined strength of Bandhan Bank and Ashok Leyland, our customers will now have access to comprehensive financing solutions with specially curated easy repayment plans.”
Mr. Rajinder Babbar, Executive Director & Chief Business Officer, Bandhan Bank, said, “Bandhan Bank is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This association reflects our dedication to serving the diverse financial needs of commercial vehicle customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment.”
Ashok Leyland today offers a comprehensive range of trucks and buses to meet the full spectrum of commercial vehicle needs, from intercity light commercial vehicles to long-haul trucks and a wide variety of buses. Ashok Leyland’s vehicles ensure safe transport and driver-friendly options. As a pioneer in technological innovations within the truck and bus segment, Ashok Leyland is fully equipped with a range of buses powered by alternative fuels, dedicated to reducing pollution and promoting an eco-friendly transport system in India.
Bandhan Bank has consistently expanded its portfolio and remains committed to further growth across key verticals such as SME Loans, Gold Loans, Personal Loans, and Auto Loans, including Commercial Vehicle financing. Additionally, the Bank offers a range of products tailored to businesses, including Loans against Property, ensuring comprehensive financial solutions for diverse customer needs.
