Avon Cycles and Punjab National Bank sign MoU for financing electric autos

Avon Cycles Limited and Punjab National Bank today signed an MoU to provide a financing facility to customers of Avon electric autos and e-rickshaws across India.

The MoU was signed at Avon Corporate Office in Ludhiana, in the presence of Onkar Singh Pahwa, chairman and managing director, and Mandeep Singh Pahwa, joint managing director of Avon Cycles Limited. Representing Punjab National Bank were Parmesh Kumar, zonal manager (Ludhiana), Kishor Chilana, circle head (Ludhiana), and Sanjay Gupta, chief manager law (Ludhiana).

The partnership will enable customers to purchase Avon rickshaws through a seamless and digital financing process, ensuring transparency and speed. The app-based facility will provide customers with an efficient and hassle-free experience.