Ashok Leyland Ltd., a commercial vehicle manufacturer, has partnered with South Indian Bank to provide financing to dealers. The partnership will offer competitive dealer finance options to Ashok Leyland's dealer network.
Under the terms of the Memorandum of Understanding (MoU), South Indian Bank will provide inventory financing solutions to Ashok Leyland dealers. This will help dealers to manage their inventory and meet the needs of their customers.
Ashok Leyland Director and CFO Gopal Mahadevan said that the alliance will offer appropriate inventory financing solutions to the company's dealer network. South Indian Bank Senior General Manager & Group Business Head, Biji SS, said that the partnership will meet the business needs of both organizations and create a strong positive impact.
The partnership is expected to benefit both Ashok Leyland and South Indian Bank. Ashok Leyland will gain access to a wider range of financing options for its dealers, while South Indian Bank will expand its customer base and increase its loan portfolio.