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The Assets Under Management (AUM) of Shriram Finance in Andhra Pradesh and Telangana combined touched ₹33,000 crore driven by economic turnaround, rural markets revival and pick up in infrastructural activity,
The top five products for the company in the Telugu states are financing of commercial vehicles, MSMEs, two-wheelers, gold loans, and personal loans.
Shriram Finance caters to the diversified financial needs of 13,50,000 customers through its 498 branches and over 10,000 employees in Andhra Pradesh and Telangana. The NBFC has a large fixed deposit franchise in the two States, totalling over ₹2,930 crore with over 46,000 depositors.
According to YS Chakravarti, MD and CEO, Shriram Finance, it would further focus on the self-employed and MSME segment in the two states as part of its growth strategy.
“We will focus on the MSME lending segment, which has impressive potential but faces financial challenges to growth, which we intend to plug,” K Srinivas, Jt. MD, Shriram Finance, told newspersons here on Friday.
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