Shriram Finance becomes India's biggest retail NBFC.

 

Shriram Finance, the largest lender of commercial vehicles, and Shriram City Union Finance, the largest financier of two-wheelers and a pioneer in MSME lending, have united to establish Shriram Transport Finance Company. According to an announcement from the business, Umesh Revankar will hold the position of Executive Vice Chairman of the combined company.

We can now better fulfil the market's needs than ever thanks to the merger's improved balance sheet, according to Revankar.

According to Shriram Finance's MD and CEO, YS Chakravarti, "The timing of the combination is brilliant. India is expanding, and the demand for loans among MSMEs is strong.

The corporation also declared the appointment of Maya Sinha as an Independent Director and Jugal Kishor Mohapatra as Chairman of the Company.