Shriram Finance Ltd, a leading finance company, has reported a significant growth in its assets under management (AUM) to Rs 8,938.61 crore for the October-December 2024 quarter. The company’s small and medium enterprises (SME) portfolio has seen a notable expansion, with AUM rising to Rs 8,938.61 crore from Rs 5,170.49 crore in the corresponding quarter of the previous financial year. This growth is attributed to the increasing demand from various industries, including manufacturing, automotive parts, production, and construction.
The company is focusing on expanding its branch network and prioritizing digital lending to professionals and enterprises. Its strategy is centered around providing credit access to SMEs, empowering production units, industrial manufacturers, and the unorganized sector. Shriram Finance Ltd is committed to solidifying its leadership in SME lending and supporting entrepreneurs and businesses across Tamil Nadu.
According to the company’s Deputy Managing Director, Muruganandha Pandiyan, the SME sector is a vital engine of economic growth, contributing significantly to GDP and employment. With the government’s emphasis on financial inclusion, digital transformation, and credit facilitation, SMEs are poised for further growth, enhancing their competitiveness and resilience in a dynamic economy.
Shriram Finance Ltd’s efforts to promote SME growth are in line with the government’s initiatives, such as the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), which aims to facilitate credit access to SMEs. The company’s commitment to SME lending is expected to continue, with a focus on leveraging digital technologies to improve the lending process and increase access to credit for small and medium-sized businesses.