Commercial vehicle manufacturer secures credit facility agreement to support dealer network's working capital requirements.
03 Nov 2025 | 1745 Views | By Shristi Ohri
Ashok Leyland has entered into a strategic partnership with Punjab National Bank (PNB) to provide enhanced financing options for its Medium and Heavy Commercial Vehicle (MHCV) dealer network across India.
The Memorandum of Understanding was signed on November 3, 2025, by K. M. Balaji, Chief Financial Officer of Ashok ...
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Ashok Leyland has entered into a strategic partnership with Punjab National Bank (PNB) to provide enhanced financing options for its Medium and Heavy Commercial Vehicle (MHCV) dealer network across India.
The Memorandum of Understanding was signed on November 3, 2025, by K. M. Balaji, Chief Financial Officer of Ashok Leyland, and Amitabh Rai, General Manager of Punjab National Bank, with senior officials from both organizations in attendance.
Under the agreement, PNB will offer customized financial products designed to address the working capital and inventory funding requirements of Ashok Leyland's dealers. The initiative aims to strengthen the dealer ecosystem by providing flexible access to credit facilities, supporting business continuity and expansion.
K. M. Balaji emphasized that the collaboration would leverage PNB's extensive national network and competitive pricing to deliver comprehensive financing solutions. He noted that the partnership would help dealers manage their operations more efficiently while strengthening Ashok Leyland's market reach.
Madhavi Deshmukh, National Sales Head at Ashok Leyland, highlighted that the arrangement would streamline financing processes for dealers, contributing to smoother business operations and improved customer service delivery.
Amitabh Rai from Punjab National Bank expressed satisfaction with the partnership, stating that the bank's diverse financial solutions would provide convenient and comprehensive financing options to meet the business needs of Ashok Leyland's dealer network.
The partnership represents Ashok Leyland's continued strategy of building alliances with major financial institutions to facilitate business operations for its customers and channel partners nationwide.