Commercial vehicle manufacturer collaborates with regional bank to provide customized financing solutions for medium and heavy commercial vehicle customers across Chhattisgarh state.
21 Jul 2025 | 479 Views | By Angitha Suresh
Ashok Leyland has entered into a vehicle financing partnership with Chhattisgarh Rajya Gramin Bank through a memorandum of understanding signed on July 21, 2025, in Raipur.
The agreement enables the commercial vehicle manufacturer to offer financing solutions for its medium and heavy commercial vehicle customers through the regional bank's ...
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Ashok Leyland has entered into a vehicle financing partnership with Chhattisgarh Rajya Gramin Bank through a memorandum of understanding signed on July 21, 2025, in Raipur.
The agreement enables the commercial vehicle manufacturer to offer financing solutions for its medium and heavy commercial vehicle customers through the regional bank's network.
The partnership allows Chhattisgarh Rajya Gramin Bank to provide vehicle loans with flexible repayment options to Ashok Leyland customers. The collaboration targets customers seeking financing for medium and heavy commercial vehicles in Chhattisgarh state, where the bank maintains an established presence.
D.S. Madhusudhan, Head Sales - Finance at Ashok Leyland, and Vijay Vasant Raikwad, General Manager - Credit at Chhattisgarh Rajya Gramin Bank, exchanged the memorandum during a ceremony attended by regional managers from both organizations.
K.M. Balaji, Chief Financial Officer at Ashok Leyland, stated that the partnership leverages the bank's network in Chhattisgarh to provide comprehensive financing solutions with customized repayment plans. Sanjeev Kumar, President - MHCV at Ashok Leyland, emphasized the collaboration's role in strengthening the company's market position and customer service approach.
Vijay Vasant Raikwad from Chhattisgarh Rajya Gramin Bank indicated that the partnership aims to deliver financing choices across the state and create benefits for both organizations in the commercial vehicle sector.
Ashok Leyland, part of the Hinduja Group, manufactures trucks and buses ranging from light commercial vehicles to long-haul trucks. The company operates as India's commercial vehicle manufacturer and has developed vehicles powered by alternative fuels as part of environmental initiatives in the transportation sector.
The partnership represents a strategic move for both organizations to expand their reach in Chhattisgarh's commercial vehicle financing market, combining Ashok Leyland's manufacturing capabilities with the regional bank's local financial services network.