Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    360 ONE acquires Mumbai Angels; announces two new funds with them

    January 23, 2023

    Kotak General Insurance partners with Clootrack to enhance customer centricity

    January 23, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC
    NBFC

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    Shriram Finance will be a diversified player with a robust net worth of Rs 40,900 Crs and Assets under Management (AUM) of Rs 1,71,000 Crs, the Company caters to over 6.7 million customers across India. The growth strategy for the Company will be focused on driving the self-employed and the MSME economy.
    December 5, 20222 Mins ReadBy Bfsinxt Desk
    Twitter LinkedIn WhatsApp

    Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer and leader in micro, small and medium enterprise (MSME) lending, have been merged to form Shriram Finance Limited (Shriram Finance).

    Shriram Finance will be a diversified player with a robust net worth of Rs 40,900 Crs and Assets under Management (AUM) of Rs 1,71,000 Crs, the Company caters to over 6.7 million customers across India. The growth strategy for the Company will be focused on driving the self-employed and the MSME economy.

    Umesh Revankar, a long-serving Shriram veteran, will serve as Executive Vice Chairman of the merged entity. Commenting on the merger he said, “It is the natural culmination of a journey of 43 years. With the balance sheet strengthened through the merger, we can serve the needs of the market better than ever before. As a customer-focused company, we can bring more products and assist them with access to credit faster. We have invested heavily in technology to improve efficiency and customer service levels. We are looking forward to an exciting phase of sustained double-digit growth.”

    YS Chakravarti, MD & CEO, Shriram Finance commented, “The timing of the merger is brilliant. As India is growing, we are seeing robust demand for credit among MSMEs. We are always close to the market with our 3600+ locations. All our business segments– financing commercial vehicles, MSMEs, Personal Loans, Gold Loans, or Vehicle Loans – are poised to grow.”

    Shriram Finance further announced the appointment of Jugal Kishor Mohapatra as Chairman of the Company and Maya Sinha as an Independent Director.

    Shriram Finance
    Previous ArticleBank of Baroda launches the bob World Kisan app – a One Stop Solution for Farmers
    Next Article AU Small Finance Bank and ICICI Lombard announce Bancassurance tie-up Inbox
    Bfsinxt Desk

    Related Posts

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Sa-Dhan and NextGen Tie-Up to “Build for Bharat” on financial inclusion

    November 25, 2022

    Leave A Reply Cancel Reply

    Recent Posts

    • PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
    • 360 ONE acquires Mumbai Angels; announces two new funds with them
    • Kotak General Insurance partners with Clootrack to enhance customer centricity
    • Upstox partners with ‘Trading View’ to empower traders with simplicity
    • AU Small Finance Bank introduces menstrual leaves for women employees

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022
    New Policy
    Policy

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 20220By Bfsinxt Desk

    The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022

    RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System

    October 8, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.