Chennai based, Shriram City Union Finance Ltd is looking forward to double the number of outlets in North India in the next three years, said Chief Operating of Officer, Mr. Y. S. Chakravarthi.
The company plans to take the total count of its outlets in the North to 250 in the next three years, from the present 100 branches, said Mr. Chakravarthi.
Mr. Arun Duggal, Chairman of Shriram City Union Finance, inaugurated the 100th branch at South Delhi few days back.
In the northern region, the average value of small business loan provided by the company is about Rs 3 lakh. In the South, the average size of SME loans is Rs 10 lakh.
The company has over 900 branches in the South and in the western regions and it provides loans for small businesses, loans against gold and personal loans.
The Shriram Group is likely to be one of the applicants for the new banking licence to be issued by the Reserve Bank of India. The RBI had recently issued the final guidelines for the new bank licences.