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Ashok Leyland ties up with Bank of Baroda

Hinduja Group flagship company Ashok Leyland on Saturday said it has entered into a MoU with the Bank of Baroda for funding the company's end-customers and finance dealers' inventory.
PTI | By HT Correspondent, New Delhi
UPDATED ON FEB 28, 2009 07:42 PM IST

Hinduja Group flagship company Ashok Leyland on Saturday said it has entered into a Memorandum of Understanding (MoU) with the Bank of Baroda for funding the company's end-customers and finance dealers' inventory.

This tie-up enables Ashok Leyland to utilise Bank of Baroda's comprehensive network and reach to service the value chain, from wholesale to retail, Ashok Leyland said in a statement.

"Cost effective funding is what is crucial at these times and the solutions offered by Public Sector Banks would help our customers and dealers on this front," Ashok Leyland Chief Financial Officer K Sridharan said.

Ashok Leyland has already entered into MoUs with State Bank of India, State Bank of Patiala, Jammu & Kashmir Bank and Corporation Bank, the statement added.

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