Quote by Mr. YS Chakravarti, Shriram City Union Finance on RBI Monetary Policy
“The RBI holding rates and maintaining an accommodative stance is conducive for tepid credit growth. Lower interest rates ahead of the festive season will push up demand from customers who have been sitting on the fence. Demand for Two-wheeler and Gold loans has been picking up, and we are poised for demand recovery in 2HFY22 with low interest rates and policy support. The RBI has also extended PSL status for banks lending to NBFCs for on-lending to MSMEs till Mar-22, thus regulatory measures, reliefs, and benefits to MSMEs will aid struggling small businesses hit by the pandemic.”About Shriram City Union Finance: Shriram City Union Finance (Shriram City; BSE: SHRMCITY, NSE: SHRIRAMCIT), a 35-year-old company and part of the Shriram Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 4.15 Million customers and has an Asset Under Management of around USD 4 Billion. The Company is a leading two wheeler financier, provides loans to SMEs, Gold loans and also has a Housing Finance Subsidiary, Shriram Housing Finance Ltd with an AUM of USD 525 Million. Shriram City has 926 branches and employee strength of 25,000 across India as of 30 June 2021. The companies’ Long term credit rating is at AA by CRISIL, ICRA, India Ratings and CARE. Shriram City has been named one of the Best Place to Work in India in 2021 by AmbitionBox, an Info Edge subsidiary.