The Chennai based Shriram City Union Finance Ltd is planning to expand its network in areas where it has low presence such as the eastern region of the country. At present, the company has an established network in states like Andhra Pradesh and Tamil Nadu. These two states also comprise its major markets.
The finance company, Shriram City Union, has just about 6 branches in eastern states like West Bengal and Bihar. It is reported that the company is planning to take this number to 60 by the next year.
On the company's expansion plans, the Managing Director of Shriram City Union, Mr. R. Duruvasan said that they plan to increase its network strength in states like Madhya Pradesh, Rajasthan and Punjab.
Shriram City Union Finance Ltd is a non banking finance company, which specializes in providing retail finance to borrowers. Its offers products like personal loans, loans against gold, auto loans (two and four wheeler) for new as well as used vehicles and business loans.