Ashok Leyland Partners with Punjab Gramin Bank for Vehicle Financing

Partnership for Vehicle Financing

Ashok Leyland, India’s top commercial vehicle maker and flagship of the Hinduja Group, has signed a Memorandum of Understanding with Punjab Gramin Bank. The move aims to give buyers simple access to tailored loans for Ashok Leyland commercial vehicles in Punjab.

The MoU was signed by Viplav Shah, Head-LCV Business at Ashok Leyland, and A.K. Mittal, General Manager of Punjab Gramin Bank. G.K. Negi, Chairman of Punjab Gramin Bank, was present at the signing. The bank will provide end-to-end financing services and repayment plans that will make it easier for customers to  buy vehicles

Expanding Reach Through Rural Network

Punjab Gramin Bank has a total of 457  branches across the state and serves over 40.76 lakh customers. Backed by Punjab National Bank and based in Kapurthala, it has a strong rural presence. This network gives customers more access to finance, from loans for light commercial vehicles used in cities to heavy-duty trucks used for long hauls.

Voices from the Partners

“Ashok Leyland is delighted to partner with Punjab Gramin Bank to provide attractive financing solutions to our customers,” said Viplav Shah, Head - LCV Business, Ashok Leyland. “This partnership will strengthen Ashok Leyland's market position by offering comprehensive financing solutions with flexible, customized repayment plans. Leveraging the Bank's extensive network, it will ensure greater convenience and accessibility for customers. Our products, featuring innovative technology, offer industry-leading total cost of ownership, ensuring maximum profitability for our customers. We remain committed to delivering exceptional customer experiences.”

G.K. Negi, Chairman of Punjab Gramin Bank, said: “Punjab Gramin Bank is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. The partnership will enable the companies to provide tailored financial solutions, delivering convenience and comprehensive choices to customers. We are confident that this partnership will fulfil the business needs of both organizations, creating a significant positive impact and paving the way for continued progress and success in the commercial vehicle sector.”

Conclusion

The agreement follows similar tie-ups with regional rural banks across India. Ashok Leyland signed with Sarva Haryana Gramin Bank in January 2025, West Bengal Gramin Bank in July, and Chhattisgarh Rajya Gramin Bank also in July.

By working with rural banks that know local markets, Ashok Leyland is strengthening its hold in semi-urban and rural areas. These partnerships will encourage customers to buy commercial vehicles for their business, which in turn will boost the commercial vehicle sector.

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