Ashok Leyland, flagship of the Hinduja Group,the second largest commercial vehicle manufacturer in India with their completerange of BS6 vehicles, has signed a Memorandum of Understanding (MoU) with Bankof Baroda, India’s premium public sector bank, to enter into a strategicfinancing partnership for a period of three years. This MoU will enable bothAshok Leyland and Bank of Baroda to offer customised financial solution tocustomers.

Under this partnership, the Bank will worktowards catering to the customers’ needs through auto loans with easy monthlyrepayment plans best suited for the customers. Moreover, the bank will leveragetechnology for enhancing customer experience.

Commenting on the partnership, Gopal Mahadevan, WholeTime Director and CFO, Ashok Leyland, said, “Ashok Leyland is delighted topartner with Bank of Baroda that has over 45,000 touchpoints across 19countries spread over 5 continents, and hence comes with good bankinginfrastructure that would help Ashok Leyland service its customers by offeringcustomised solutions that cater to their needs. Ashok Leyland products comewith differentiated technology that offer our customers best-in-class totalcost of ownership, thereby providing profitability to their business. AshokLeyland has embraced future-ready technology to offer digital platforms andservices that are ahead of the curve.”

Speaking on the tie-up, DhrubashishBhattacharya, Head – MSME New Business, Baroda Corporate Centre, Bank ofBaroda, Mumbai said, “The Bank is having contemporary Commercial Vehicleproduct at very competitive pricing which can be made available within best-in-classTAT (Turnaround Time) to foster higher growth in business volume for both the companies.”