Ashok Leyland signs MoU with Federal Bank

Ashok Leyland, flagship of the Hinduja Group, has signed a Memorandum of Understanding (MoU) with Federal Bank to enter into a strategic financing partnership. Under it, Federal Bank will be able to provide end-to-end financial solutions to the customers of Ashok Leyland. The Bank will work towards catering to the customers' needs through auto loans with easy monthly repayment plans best suited for the customers. The bank will leverage technology for enhancing customer experience.

Gopal Mahadevan, Whole Time Director and CFO, Ashok Leyland, said, "This association will help Ashok Leyland gain an edge in the market. Ashok Leyland products come with differentiated technology that offers our customers best-in-class total cost of ownership, thereby providing profitability to their business. Ashok Leyland has embraced future-ready technology to offer digital platforms and services that are ahead of the curve, thereby living by its brand promise of Aapki Jeet. Hamari Jeet."

Harsh Dugar, Group President, Federal Bank, informed that funding to commercial vehicles in the bank is offered through dedicated RMs and wide network of branches. "We always try to offer customized solutions to the end-user along with attractive commercials combined with better TAT matching the industry standards. With this partnership, we will be able to offer our financial solutions by leveraging the bank's extensive physical and digital reach to the customers of Ashok Leyland and its dealers."