Ashok Leyland, India’s leading commercial vehicle manufacturer and the flagship of the Hinduja Group, signed a Memorandum of Understanding (MoU) with Bandhan Bank on September 5, 2024. This strategic partnership aims to provide customised vehicle financing for Ashok Leyland’s customers, enabling them to access specially tailored financial solutions.
About the partnership
The MoU was signed by K.M. Balaji, CFO of Ashok Leyland, and Rajinder Babbar, Executive Director and Chief Business Officer of Bandhan Bank. The signing took place in the presence of Sanjeev Kumar, President and Head of MHCV at Ashok Leyland. This partnership will enable Bandhan Bank to offer end-to-end financial solutions, including customised vehicle loans with convenient monthly repayment plans, to Ashok Leyland’s customers.
This partnership between Ashok Leyland and Bandhan Bank represents a significant step in providing tailored vehicle financing solutions to customers, enhancing their ability to manage their financial obligations effectively while supporting the growth of the commercial vehicle segment.
Ashok Leyland offers a wide range of commercial vehicles, including intercity light commercial vehicles, long-haul trucks, and various types of buses. The company’s vehicles are designed to ensure safe transport and driver-friendly options. As a pioneer in technological innovations, Ashok Leyland is committed to reducing pollution and promoting an eco-friendly transport system with its range of buses powered by alternative fuels.
Bandhan Bank continues to expand its portfolio, with a strong focus on key verticals such as SME Loans, Gold Loans, Personal Loans, Auto Loans, and Commercial Vehicle financing. The Bank also offers various products tailored to businesses, including Loans against Property, ensuring comprehensive financial solutions for its customers’ diverse needs.
K.M. Balaji, Chief Financial Officer of Ashok Leyland, expressed his excitement about the partnership. “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.”
Sanjeev Kumar, President M&HCV at Ashok Leyland, highlighted the added value for customers. “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.”
Rajinder Babbar, Executive Director and Chief Business Officer of Bandhan Bank, reiterated the Bank’s commitment to serving diverse financial needs. “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.”
