Ashok Leyland partners with ESAF Small Finance Bank for providing Vehicle Finance facilities

Chennai, XXX December, 2024: Ashok Leyland, the Indian flagship of the Hinduja Group and country’s leading commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU), with ESAF Small Finance Bank to enter into a strategic vehicle financing partnership for its customers. This MoU will enable both Ashok Leyland and ESAF Small Finance Bank to offer customized financial solutions to the customers

The MoU was signed by Mr. Viplav Shah, Head - LCV Business, Ashok Leyland and Mr. George Oommen - Business Head – General Loans and Mobility Loans, ESAF Small Finance Bank in the presence of Mr. Amandeep Singh, President- LCV, IO, PSB and Defence, Ashok Leyland. Under this partnership, ESAF Small Finance Bank will provide end to end financial solutions to the customers of Ashok Leyland. The partnership will focus on meeting customer needs by providing vehicle loans with convenient monthly repayment plans tailored to their preferences

Mr. Amandeep Singh, President- LCV, IO, PSB and Defence, Ashok Leyland said, “At Ashok Leyland, we are dedicated to continuously enhancing our customers' experience and delivering greater value. With the combined strength of ESAF Small Finance Bank and Ashok Leyland, our customers will now have access to comprehensive financing solutions with specially curated easy repayment plans

Mr. Viplav Shah, Head-LCV Business, Ashok Leyland said, “Ashok Leyland Light Commercial Vehicle Business is delighted to partner with ESAF Small Finance Bank to provide attractive financing solutions to our customers. This strategic partnership will strengthen Ashok Leyland's market position. Driven by innovative technology, our products offer an unmatched total cost of ownership, ensuring optimal profitability for our customers. We are steadfast in our commitment to delivering exceptional experiences that exceed customer expectations

Mr. George Oommen -- Business Head – General Loans and Mobility Loans, ESAF Small Finance Bank said, “We are delighted to join forces with Ashok Leyland to provide commercial vehicle owners access to seamless financing solutions customized to their needs. At ESAF Small Finance Bank, our mission has always been to empower businesses and individuals with financial solutions that drive growth and prosperity. This partnership with Ashok Leyland allows us to extend our commitment to financial inclusion by supporting commercial vehicle customers with accessible and customized financing options. Together, we aim to enable entrepreneurs and businesses to achieve their goals while contributing to economic growth and community development

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. Ashok Leyland’s vehicles ensure safe transport and driver-friendly options. As a pioneer in technological innovations within the truck and bus segment, Ashok Leyland is fully equipped with a range of buses powered by alternative fuels, dedicated to reducing pollution and promoting an eco-friendly transport system in India

About Ashok Leyland:

Pioneers in the Commercial Vehicle (CV) space, Ashok Leyland is a flagship of the Hinduja group, and is the 2nd largest manufacturer of commercial vehicles in India, and 4th largest manufacturer of buses and 19th largest manufacturer of trucks in the world. Headquartered in Chennai, with 7 manufacturing plants in India, a bus manufacturing facility in Ras Al Khaimah (UAE), and one at Leeds, United Kingdom, Ashok Leyland has a well-diversified portfolio and an international footprint. Ashok Leyland has recently been ranked as 34th best brand in India

A US $ 4.5 billion Indian multinational that has a 75-year legacy, and presence in more than 50 countries, Ashok Leyland is one of the most fully integrated manufacturing companies on this side of the globe. In the commercial vehicle industry, Ashok Leyland has one of the largest and fastest-growing networks with 52,863 touch points which includes 1748 exclusive touch points and 11,207 outlets for Leyparts

The company now has a service centre every 75 kilometers on all major highways, allowing it to keep its “Ashok Leyland Quick Response” promise of reaching customers within 4 hours and getting them back on the road in 48 hours”. With technology-enabled customer engagement processes and knowledge on the specific applications of the product range, Ashok Leyland's sales team is well-equipped to fulfil customers’ needs. Ashok Leyland manages 12 driver training institutes across India and has trained over 1,800,000 drivers since inception

Guided by the principle of "Koi Manzil Door Nahin," symbolizing that no destination is too distant to achieve, Ashok Leyland is resolute in its pursuit to serve stakeholders and contribute to India's progress through continuous innovation and evolution

About ESAF Small Finance Bank:

ESAF Small Finance Bank (ESAF SFB), the new-age social bank, continues redefining the banking experience for all stakeholders. ESAF Small Finance Bank got the Reserve Bank of India's approval for inclusion in the second schedule of the RBI Act 1934 within two years of the commencement of its operations and hence the Bank became a Scheduled Bank with effect from 27th December 2018. In June 2018, the RBI permitted the Bank to start NRE (Rupee) Account Operations. ESAF SFB has set up extensive network of 756 Banking Outlets, 8834 Customer touch points, 35 Business Correspondents, 5765 Banking Agents, 570 Business Facilitators and 646 ATMs spread across 24 states and 2 union territories