Ashok Leyland join hands with lClCl Bank for vehicle loans

Commercial vehicle major Ashok Leyland on Monday said it has tied up with lClCl Bank for vehicle loans for a period of two years.

The company has inked a Memorandum of Understanding (MoU) with lClCl Bank to enter into a strategic financing partnership for two years, the Hinduja group flagship said in a regulatory filing.

The agreement will enable both the partners to offer customised financial solution to customers across the country with focus on semi-urban and rural geographies, it added.

"With a pan-India presence, both organisations can leverage their strengths for the mutual benefit of the customers," Ashok Leyland chief operating officer Anuj Kathuria sapid.

lClCl Bank Head - Secured Assets Ravi Narayanan said in order to give more impetus to the commercial vehicle sector, the company brings forth customised, technology led and speedy credit and other financial solutions to the fleet owners of trucks and buses and assist them in the growth of their business.

"With this partnership, we will also offer the whole gamut of our banking products and services to the customers of Ashok Leyland and its dealers," he added.