Ashok Leyland partners Rajasthan Gramin Bank to boost vehicle financing access in rural markets

In a move aimed at widening financing access for commercial vehicle buyers, Ashok Leyland Limited has signed a Memorandum of Understanding (MoU) with Rajasthan Gramin Bank to offer tailored vehicle finance solutions to customers across the state.

The partnership seeks to leverage Rajasthan Gramin Bank’s extensive branch network — the largest among regional rural banks in Rajasthan — to provide structured, flexible loan options to Ashok Leyland customers. The companies said the arrangement would enable end-to-end financing support, simplifying the purchase process for commercial vehicle operators, especially in semi-urban and rural markets.

The MoU was signed by Viplav Shah, Head – LCV Business at Ashok Leyland, and Abhimanyu Charan, AGM, Rajasthan Gramin Bank, in the presence of Mukesh Bhartiya, Chairman of the bank.

Focus on flexible, customer-centric financing

Under the agreement, customers will gain access to customised repayment structures designed around their cash flow cycles. The companies indicated that the collaboration is structured to improve affordability and ownership convenience, particularly for small fleet operators and first-time buyers.

Viplav Shah said the partnership would strengthen Ashok Leyland’s market position while enhancing customer experience through attractive financing options. He added that the company remains focused on delivering products that combine technology, durability and competitive total cost of ownership.

Mukesh Bhartiya noted that the tie-up aligns with the bank’s objective of serving the diverse financial needs of commercial vehicle customers. He said the collaboration would help extend financing access and support business growth in the transport and logistics ecosystem.

Strengthening market reach

Ashok Leyland offers a broad portfolio spanning light commercial vehicles, medium and heavy-duty trucks, and buses, including alternative fuel options. By integrating financing support with its product portfolio, the company aims to accelerate penetration in growth markets where access to formal credit remains a key purchase driver.

The partnership underscores the growing importance of OEM–bank alliances in driving vehicle sales, particularly as rural and semi-urban demand gains momentum in India’s commercial vehicle segment.