Ashok Leyland has signed a Memorandum of Understanding (MoU) with IDBI Bank to enter into a strategic channel financing partnership for its dealers.
This MoU will enable both Ashok Leyland and IDBI Bank to offer customized financial solutions to them.
Gopal Mahadevan, CFO, Ashok Leyland said, “With the combined strength of IDBI Bank and Ashok Leyland, the network of AL dealers will now have financing solutions to suit their needs using digital technology. At Ashok Leyland, our continuous endeavor is to add more value to our dealer partners and this initiative will further help expanding business.”
Suresh Khatanhar, Deputy MD, IDBI Bank said, “Our digital channel finance tool e-Supply Chain Financing, is designed to meet the working capital requirements of authorized dealers and traders of the corporates. Our partnership will enable us to serve numerous businesses in India. Through the e-SCF tool, our goal is to provide seamless financial support to Ashok Leyland’s dealers, fostering growth and resilience in the entire supply chain.”
The e-Supply Chain Financing solution will enable Ashok Leyland’s dealers to access working capital easily and quickly through an end-to-end digital process.
It will eliminate the complexities and delays associated with traditional paper-based financing, empowering businesses to manage their cash flows more effectively and accelerate business growth.
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