Shriram Finance disburses Rs 8,938.61 cr in Q3 under SME loans in TN, ET BFSI
Chennai, Shriram Finance Ltd, the flagship firm of the diversified conglomerate Shriram Group has made disbursements of Rs 8,938.61 crore throughout the October-December 2024 quarter strengthening its small and medium enterprises portfolio within the State, a high official mentioned. The town based mostly firm had made disbursements of Rs 5,170.49 crore underneath the SME vertical throughout the corresponding quarter of final monetary yr.
The expansion within the SME mortgage was within the backdrop of accelerating demand from numerous industries together with manufacturing, car components, manufacturing and building.
The corporate is increasing its department community and prioritising digital lending to professionals and enterprises. It has focused a continued development within the SME lending section and to garner a bigger market share with its lending technique and buyer centric-approach.
“The SME sector is a crucial engine of economic growth, contributing considerably to GDP and employment. At Shriram Finance, our focus stays on increasing credit entry to SMEs, empowering manufacturing items, industrial producers, transport operators and the unorganised sector,” mentioned the corporate’s Deputy Managing Director Muruganandha Pandiyan in a press release on Thursday.
Shriram Finance Ltd continues to solidify its management within the SME lending area, supporting entrepreneurs and companies throughout Tamil Nadu.
“With the federal government’s continued emphasis on monetary inclusion, digital transformation, and credit score facilitation via initiatives like CGTMSE (Credit score Assure Fund Belief for Micro and Small Enterprises), SMEs are set to develop additional, enhancing their competitiveness and resilience in a dynamic economic system,” he added.
