Mumbai, Oct. 12 -- Chennai-headquartered commercial vehicle manufacturer Ashok Leyland, the flagship company of the Hinduja Group, has signed a Memorandum of Understanding with Tamilnad Mercantile Bank to provide financing solutions for purchasers of its trucks and buses.

The agreement was executed by Neelakantan, Vice-President of Finance at Ashok Leyland and R. Ananda Ganesan, Executive Vice-President and Country Head of Credit at Tamilnad Mercantile Bank, in the presence of Salee S Nair, Managing Director and Chief Executive Officer of Tamilnad Mercantile Bank.

Under the partnership, Tamilnad Mercantile Bank will extend end-to-end vehicle loans with structured repayment schedules across Ashok Leyland's range of light, medium and heav...