By Priya Singh
3114 Views
Updated On: 05-Sep-2024 01:00 PM
According to the agreement, Bandhan Bank will provide end-to-end financial solutions to Ashok Leyland's customers.
Key Highlights:
Ashok Leyland, a well-known commercial vehicle manufacturer and the Hinduja Group's Indian flagship, has inked a Memorandum of Understanding (MoU) with Bandhan Bank to form a strategic relationship in financing vehicles.
This agreement seeks to provide tailored financial solutions to Ashok Leyland clients, increasing their access to vehicle loans with flexible payback choices.
According to the agreement, Bandhan Bank will provide end-to-end financial solutions to Ashok Leyland's customers, focusing on their specific needs and offering flexible loan terms.
K.M. Balaji, Ashok Leyland's Chief Financial Officer, and Rajinder Babbar, Executive Director and Chief Business Officer of Bandhan Bank, signed the MoU in the presence of Ashok Leyland's President and Head of Medium and Heavy Commercial Vehicles (MHCV), Sanjeev Kumar.
K.M. Balaji emphasized Ashok Leyland's excitement for the relationship, stating that the engagement with Bandhan Bank would assist boost the company's market position by providing appealing financing options.
He emphasized that Ashok Leyland's products, which use revolutionary technology, are designed to provide a low total cost of ownership, hence increasing client profitability.
Sanjeev Kumar of Ashok Leyland stated that the alliance intends to improve the customer experience and give more value. He stated that the combined efforts of the two organizations would result in complete financing options with simple payback plans customized to consumer preferences.
Rajinder Babbar of Bandhan Bank remarked that the agreement is consistent with the bank's commitment to meeting the financial needs of commercial vehicle clients.
He noted that the agreement would allow the bank expand its reach and provide customized financing alternatives to support the growth of commercial vehicle enterprises.
Ashok Leyland currently provides a diverse range of trucks and buses to meet a variety of commercial requirements, ranging from light commercial vehicles for intercity transport to long-haul trucks and buses.
The company is also working on developing eco-friendly transportation options, such as buses powered by alternative fuels, to reduce pollution and promote sustainable transportation in India.
Also Read: Ashok Leyland Launches Uptime Solution Centre at Ennore
CMV360 Says
The new partnership between Ashok Leyland and Bandhan Bank is a great move for those looking for vehicle financing. With customized financial solutions and flexible loan terms, businesses should find it easier to get the commercial vehicles they require.
This move benefits both companies and shows Bandhan Bank’s dedication to helping commercial vehicle customers. The focus on easy repayment options will likely give the commercial vehicle sector a helpful boost.