Latest News | Shriram City, STFC Raise Rs 2,000 Cr Through Retail Fixed Deposits in Jul

Mumbai, Aug 10 (PTI) 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.

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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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)