Shriram Finance to foray into supply chain funding and educational loan by next year

Hyderabad: Shriram Finance Ltd. (Shriram Finance), India’s largest retail NBFC, on Friday announced it is planning to make a foray into new segments such as supply chain financing and education loan by next year.

Shriram Transport Finance Company (STFC), India’s largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer, have been merged to form Shriram finance.
We will be launching the supply chain funding segment by January next year while entering into the educational loan vertical in the next 2-3 months, said YS Chakravarti, Managing Director and CEO, Shriram Finance in the press conference here.
He said Shriram Finance will be a diversified player with a net worth of Rs 37,500 crore and Assets under management (AUM) of Rs 1,71,000 crore, the company caters to over 67 lakh customers across the country.
We are looking at a growth in retail deposits at 25 per cent by 2030 and AUM growth at 15 per cent in the next three years, he said the company has a large fixed deposit franchise in Andhra Pradesh and Telangana, totaling over Rs 2930 crore with over 46,000 depositors.
He said the growth strategy for the company will be focused on driving the self-employed and the MSME economy.
The AUM of the company in the state of Andhra Pradesh and Telangana combined touched Rs 33,000 crore, he informed and said the company caters to the diversified financial needs of 13.5 lakh customers in rural and semi-urban through its 498 branches and over 10,000 employees in the both Telugu states.
Our strategy is to focus on the self-employee and MSME segment in the two states. There is inadequate capital infusion compounded by insufficient data on credit requirements and we specialize in understanding this segment and their credit needs, he added.
Shriram Finance Joint Managing Director K. Srinivas was also present .