Ashok Leyland, the Indian flagship of the Hinduja Group and leading commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU) with Tamilnad Mercantile Bank (TMB) to enter into a strategic vehicle financing partnership for its customers. This MoU will enable both Ashok Leyland and Tamilnad Mercantile Bank (TMB) to offer customised financial solutions to the customers buying Ashok Leyland’s trucks and buses.

Under this partnership, TMB will be able to provide end-to-end financial solutions to the customers of Ashok Leyland. The partnership aims to leverage these strengths to enhance customer convenience by offering vehicle loans with flexible, easy-to-manage repayment options, tailored to meet individual needs and preferences, says a release.

KM Balaji, Whole-Time Director and Chief Financial Officer, Ashok Leyland, said the partnership will strengthen our customer-centric approach by facilitating greater access to finance for customers purchasing Ashok Leyland trucks and buses.

Salee S Nair, Managing Director and CEO, Tamilnad Mercantile Bank (TMB) said, TMB will offer tailored financing solutions backed by seamless processes and customer-centric service. By leveraging the combined strengths of TMB’s robust banking network and Ashok Leyland’s extensive market presence, we aim to support business growth and drive greater mobility for transport operators and fleet owners.”

Ashok Leyland today offers a comprehensive range of trucks and buses to meet the full spectrum of commercial vehicle needs, from intercity light commercial vehicles to long-haul trucks and a wide variety of buses.

The MoU was signed by Neelakantan, Vice President- Finance, Ashok Leyland and R Ananda Ganesan, Executive Vice President and Country Head – Credit, Tamilnad Mercantile Bank (TMB), in the presence of Salee S. Nair, MD & CEO, Tamilnad Mercantile Bank (TMB), MD Vincent, Executive Director, Tamilnad Mercantile Bank (TMB), and Vijaya Kumar, Vice President – Credit, Tamilnad Mercantile Bank (TMB) and DS Madhusudhan, Head – Sales Finance, Ashok Leyland, says the release.

Published on October 12, 2026