New Delhi: Punjab National Bank has signed an MoU with Mahindra Last Mile Mobility Limited to broaden credit access for customers purchasing electric commercial vehicles. The collaboration aims to improve financing options across India and support the growth of cleaner mobility.
The agreement was signed in New Delhi in the presence of senior representatives from both organisations. Under the arrangement, PNB will introduce customised loan schemes, flexible repayment plans and faster credit processing. The bank will also strengthen both digital and in-person support across its branches to simplify the customer journey.
Ashok Chandra, MD and CEO of PNB, said, “We are delighted to join hands with Mahindra Last Mile Mobility Limited to make eco-friendly transportation solutions more accessible. This partnership reflects our dedication to sustainable practices and customer-centric financial offerings. Together, we aim to simplify the purchase journey for customers and accelerate the adoption of electric vehicles in India.”
Suman Mishra, MD and CEO of Mahindra Last Mile Mobility Limited, said, “Our collaboration with PNB demonstrates our commitment to making advanced last mobility solutions accessible and affordable for all. Together, we aim to provide robust financial support to our valued customers thereby simplifying their purchasing journey.”
Mahindra Last Mile Mobility Limited, which leads India’s electric commercial vehicle segment, expects the partnership to broaden its outreach, particularly among small business owners and transport operators. The initiative is expected to improve access to reliable financing and contribute to the country’s shift towards sustainable transport.
BI Bureau
