Shriram Finance becomes India's biggest retail NBFC

Shriram Finance, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest financier of two-wheelers and a pioneer in MSME lending, have merged to form Shriram Transport Finance Company. According to a release from the business, Umesh Revankar will hold the position of Executive Vice Chairman of the combined company.

We can now better serve the market's needs than ever thanks to the merger's strengthened balance sheet, according to Revankar.

According to Shriram Finance's MD and CEO, YS Chakravarti, "The timing of the merger is brilliant. India is expanding, and the demand for loans among MSMEs is strong.

The company also declared the appointment of Maya Sinha as an Independent Director and Jugal Kishor Mohapatra as Chairman of the Company.