Commercial vehicle manufacturer partners with regional bank to provide customized loan options for customers across Tamil Nadu state.
15 Jul 2025 | 545 Views | By Angitha Suresh
Ashok Leyland has entered into a strategic partnership with Tamil Nadu Grama Bank to provide vehicle financing solutions for commercial vehicle customers across Tamil Nadu. The Memorandum of Understanding (MoU) was signed on July 15, 2025, establishing a collaboration aimed at enhancing accessibility to vehicle loans through customized repayment plans.
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Ashok Leyland has entered into a strategic partnership with Tamil Nadu Grama Bank to provide vehicle financing solutions for commercial vehicle customers across Tamil Nadu. The Memorandum of Understanding (MoU) was signed on July 15, 2025, establishing a collaboration aimed at enhancing accessibility to vehicle loans through customized repayment plans.
The agreement was formalized by Viplav Shah, Head of Light Commercial Vehicle Business at Ashok Leyland, and Kannan Ponnuraman, General Manager of Tamil Nadu Grama Bank. The signing ceremony was attended by Mani Subramanian, Chairman of Tamil Nadu Grama Bank.
Under the partnership terms, Tamil Nadu Grama Bank will offer end-to-end financial solutions to Ashok Leyland customers. The bank will provide vehicle loans with monthly repayment plans designed to match customer preferences and financial capabilities.
Shah stated that the collaboration will strengthen Ashok Leyland's market presence and improve access to the company's products. He emphasized the company's commitment to delivering value and supporting customer profitability through this financing arrangement.
Subramanian noted that the partnership reflects the bank's dedication to serving commercial vehicle customers' financial needs. He expressed confidence that the collaboration will expand the bank's reach and enable it to provide tailored financing options for businesses in the commercial vehicle sector.
Tamil Nadu Grama Bank operates 676 branches across Tamil Nadu and offers financial products serving various segments of society. The bank provides agriculture and retail loans, along with products specifically designed for Micro, Small, and Medium Enterprises. The institution actively promotes government schemes focused on financial inclusion, with a mission to provide affordable banking services to underserved communities.
Ashok Leyland, the Indian flagship of the Hinduja Group, is a leading commercial vehicle manufacturer in the country. The company produces a comprehensive range of trucks and buses, from intercity light commercial vehicles to long-haul trucks and various bus types. As part of its technological innovation focus, Ashok Leyland has developed vehicles powered by alternative fuels to reduce pollution and promote environmentally friendly transportation systems in India.