The Hindu Business Line : Ashok Leyland pact with Magma Fin

Ashok Leyland signed a memorandum of understanding with Magma Fincorp Ltd (MFL) on Monday to provide financing to end-customers of commercial vehicles. The agreement, signed by Mr Rajive Saharia, Executive Director – Marketing, Ashok Leyland, and Mr Ravi Todi, Joint Managing Director, MFL, will pave the way for enhancing sales by improving financing coverage, especially in the eastern and northern markets. A press release from the company said, MFL would bring to the table its distribution and service network of 150 offices across the country focusing primarily on semi-urban and rural areas. Mr Ravi Todi said that the association with Ashok Leyland will help MFL to broad base commercial vehicle assets financed by the company and, “provide us a wider pan-India presence.”

– Our Bureau

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