Ashok Leyland has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to strengthen dealer financing across India. The partnership aims to offer competitive and customised financial solutions to the company’s Medium and Heavy Commercial Vehicle (MHCV) dealer network, enabling smoother business operations and long-term growth.
The MoU was formalised in the presence of senior officials from both organisations, with K M Balaji, Chief Financial Officer, Ashok Leyland, and Amitabh Rai, General Manager, Punjab National Bank, signing the agreement.
Under this collaboration, PNB will provide tailored financial products to support the working capital and inventory funding requirements of Ashok Leyland’s dealers. By offering flexible and easy access to credit, the initiative is expected to enhance dealer capabilities, strengthen the distribution ecosystem, and ensure business continuity.
Sharing his views on the partnership, K M Balaji, Chief Financial Officer, Ashok Leyland, said,
“Ashok Leyland is pleased to partner with Punjab National Bank to offer enhanced financial support to our dealer partners. This collaboration will provide comprehensive financing solutions with flexible and convenient options, helping our dealers manage their business more efficiently. Leveraging PNB’s strong network across the country and competitive pricing, this initiative will further strengthen our reach and enable sustained growth for our dealer ecosystem.”
Speaking on the advantage for the sales network, Madhavi Deshmukh, National Sales Head, Ashok Leyland, said,
“This partnership with PNB will make financing more convenient for our dealers, ensuring smooth business operations and better customer service. We look forward to working closely with the bank to create value for our dealer partners.”
Emphasising PNB’s commitment, Amitabh Rai, General Manager, Punjab National Bank, remarked,
“We are extremely happy to partner with Ashok Leyland. Through our varied financial solutions, our goal is to offer convenient and complete financing choices to the dealers. We believe that this partnership will meet the business needs of both organisations and create a strong positive impact.”
With this strategic collaboration, Ashok Leyland and Punjab National Bank aim to further empower the MHCV dealer community with accessible, structured, and growth-oriented financing solutions.