Shriram Transport unveils UP plans

Shriram Transport Finance Company Ltd (SFTC), a leading player in the non-banking financial company (NBFC) segment, is planning to expand operations in Uttar Pradesh. The company announced its plans to reach out to truck owners in Lucknow yesterday.

Speaking on the occasion, Umesh Renankar, executive director, Shriram Transport Finance Company Ltd, said: "To retain leadership in the NBFC segment, we have charted our plan for the current year, which will be supported by advertisements, schemes and events spread over the next six months."

In order to provide value-added services to truck owners, the company has introduced products like reconditioned trucks, truck exchange programmes, tyre financing, working capital and engine replacement finance, and other schemes like free mobile phones for truck owners and loyalty reward programmes.

STFC is the flagship company of the Rs 10,000 crore ($2.2 billion) Shriram group, which has a significant presence in chit funds, insurance consultancy, consumer durable financing and stock broking, property development and wind energy.