MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT
- In a regulatory update submitted to the Indian Stock Exchanges, Mumbai headquartered Ashok Leyland Ltd said of having partnered for strategic financing with ICICI Bank Ltd, for period of two years.
In a press-release as submitted by the company to the Indian Bourses, titled - "Ashok Leyland partners with ICICI Bank" it further read that, Ashok Leyland, flagship of the Hinduja Group, the second largest commercial vehicle manufacturers in lndia with their complete range of 856 ready vehicles, signed a Memorandum of Understanding (MoU), with ICICI Bank to enter into a strategic financing partnership for two years.
This MoU will enable both Ashok Leyland and ICICI Bank to offer customized financial solution to customers across India, with focus on semi-urban and rural geographies.
With this MoU, ICICI Bank will be a preferred financier for providing finance to the customers buying Ashok Leyland vehicles.
The Bank will work in close coordination with the authorized dealers of Ashok Leyland to provide financial solutions to the customers.
Customers will be benefitted with preferred product and financial solutions from both the organizations.
The joint initiative will enable both the organizations to effectively leverage the combined strengths of Ashok Leyland's best-in-class products and ICICI Bank's significant distribution reach in India.
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