Shriram City Union Finance and Shriram Transport Finance Company (STFC) raised record retail fixed deposits (FDs) worth ₹2,000 crore in July 2021.
Both the companies – Shriram City and STFC – are part of the Shriram Group.
While Shriram City raised retail FDs worth ₹390 crore, STFC raised ₹1,610 crore in July 2021, the highest ever funds raised from retail FDs for both entities, a release said on Tuesday.
In Q1 FY22, Shriram City witnessed retail FD growth of 33 per cent to ₹5,761 crore and STFC saw a 49 per cent rise to ₹17,903 crore.
Shriram City is a Chennai-based leading small-to-medium enterprise (SME), two-wheeler and gold financing non-banking financial company (NBFC). STFC is a Mumbai-headquartered asset financing NBFC.