About Shriram finance limited
Shriram Finance Limited: A Comprehensive Guide to India's Leading Financial Services Company
Shriram Finance Limited is a leading financial services company in India that offers a wide range of financial products and services to its customers. The company was founded in 1974 by R. Thyagarajan, AVS Raja, and T. Jayaraman with the aim of providing affordable financing solutions to the underserved segments of society.
Over the years, Shriram Finance has grown into one of the most trusted names in the Indian financial services industry with a presence across 22 states and over 900 branches. The company has also diversified its product portfolio to cater to different customer segments such as retail, SMEs, commercial vehicles, construction equipment, and more.
In this comprehensive guide, we will take a closer look at Shriram Finance Limited - its history, products and services offered, customer reviews and ratings, awards and recognitions received by the company over the years.
History
Shriram Finance Limited was incorporated in Chennai (formerly known as Madras) on April 5th 1979 as Private Ltd Company under Companies Act 1956. It started operations with an initial capital base of Rs.1 lakh ($1=Rs70 approx.) which was contributed by three friends - R.Thyagarajan (RT), AVS Raja (AVSR) & T.Jayaraman (TJ). They had no prior experience or background in finance but they were determined to make it work.
The first office was set up at Moore Street near Parry's Corner area which is considered as hub for small businesses & traders dealing with textiles & other commodities. Initially they started lending money from their own savings but soon realized that there is huge demand for credit among small business owners who are not able to get loans from banks due lack of collateral or credit history.
They decided to tap this market opportunity by offering loans against gold jewellery which was a common practice in South India. They started with small ticket size loans of Rs.5000-10000 and gradually increased it to Rs.1 lakh over the years.
In 1986, Shriram Finance became a public limited company and got listed on Bombay Stock Exchange (BSE) & National Stock Exchange (NSE) in 1995.
Products and Services
Shriram Finance Limited offers a wide range of financial products and services to its customers across different segments such as retail, SMEs, commercial vehicles, construction equipment, etc. Some of the key products offered by the company are:
1. Gold Loans: Shriram Finance offers loans against gold jewellery with minimal documentation and quick disbursal process. The loan amount can range from Rs.5000 to Rs.20 lakhs depending on the value of gold pledged.
2. Two-Wheeler Loans: The company also provides financing solutions for two-wheelers with attractive interest rates and flexible repayment options.
3. SME Loans: Shriram Finance offers customized financing solutions for small and medium enterprises (SMEs) to help them grow their business operations.
4. Commercial Vehicle Loans: The company provides financing solutions for commercial vehicles such as trucks, buses, tippers, etc., with competitive interest rates and easy repayment options.
5.Construction Equipment Loans :The Company also provides finance for construction equipment like excavators ,backhoe loaders ,cranes etc .
Apart from these core products ,the Company has diversified into other areas like Insurance broking through its subsidiary Shriram General Insurance Co Ltd .It also has presence in Mutual Fund distribution through its subsidiary Shriram Asset Management Co Ltd .
Customer Reviews
Shriram Finance Limited has received positive reviews from its customers over the years due to its customer-centric approach towards providing financial services that cater to their specific needs .Customers have appreciated the quick disbursal process ,minimal documentation requirements and competitive interest rates offered by the company .
Awards and Recognitions
Shriram Finance Limited has received several awards and recognitions over the years for its contribution to the Indian financial services industry. Some of the key awards received by the company are:
1. Best NBFC in India - Dun & Bradstreet Awards (2019)
2. Best NBFC in Rural Financing - National Payments Corporation of India (NPCI) Awards (2018)
3. Best Financial Inclusion Initiative - Skoch Financial Inclusion Awards (2017)
4. Best NBFC in SME Financing - ASSOCHAM SMEs Excellence Awards (2016)
Conclusion
Shriram Finance Limited is a leading financial services company in India that has been providing affordable financing solutions to its customers for over four decades .The Company has diversified its product portfolio over time to cater to different customer segments such as retail, SMEs, commercial vehicles, construction equipment etc .It has also received several awards and recognitions for its contribution to the Indian financial services industry.
If you are looking for a reliable financial partner that can help you achieve your business or personal goals ,then Shriram Finance Limited could be a good option due to its customer-centric approach towards providing customized financing solutions that cater to your specific needs .