Shriram City, STFC raise Rs 2,000 cr through retail fixed deposits in Jul
Shriram City Union Finance and Shriram Transport Finance Company have raised record retail fixed deposits (FDs) worth Rs 2,000 crore in July 2021.
Both the companies Shriram City and STFC — are part of Shriram Group.
While Shriram City raised retail FDs worth Rs 390 crore, STFC raised Rs 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 Rs 5,761 crore and STFC saw a 49 per cent rise to Rs 17,903 crore.
Shriram City is a Chennai-based leading SME, two-wheeler and gold financing non-banking financial company (NBFC).
STFC is a Mumbai headquartered asset financing NBFC.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
