MAN Trucks India signs MOU with AXIS Bank

MAN Trucks India signed a Memorandum of Understanding (MOU) with India’s leading private bank – Axis Bank for offering commercial vehicle loans to its customers. With this MOU, Axis Bank becomes a preferred financier for MAN Trucks in India.

The MOU was signed by Mr. Jagadish Bhat, Chairman & Managing Director, MAN Trucks India and Mr. Bijoy Thaplial, Vice President, Auto Loans, AXIS Bank. Also present on the occasion were Mr.Somasundaram, National Sales Head, MAN Trucks India and Mr.Rangesh Srinivasan, Group Head – Product & Programs, Axis Bank.

Announcing the partnership, Mr. Jagadish Bhat, Chairman & MD MAN Trucks India, said “MAN Truck customers can now avail commercial vehicle loans from any of Axis banks’ 2500 plus branches. With this MOU, we are strengthening our efforts to serve our customers better by developing formal relationships with leading Banks & NBFCs.”

Mr. Jairam Sridharan, President & Head Retail Lending & Payments, AXIS Bank added “There is a growing demand for Heavy commercial vehicles in the country. Axis Banks’ wide network across 1,708 cities and towns, coupled with MAN Trucks expertise in heavy commercial vehicles will allow us to cater to our customer needs in this sector.”