Shriram Automall ties up with SBI for Auto Division

DELHI/NCR, India - Nov. 26, 2013 - PRLog -- October 29, 2013: Shriram Automall India Limited (SAMIL), a subsidiary of Shriram Transport Finance Company (STFC), has entered into a PAN India tie up with State Bank of India (SBI), the country’s largest public sector bank, by signing another strategic agreement for Auto division today. The event saw the presence of Mr. Dipankar Purkayastha, Chief

General Manager (PB) form SBI and Mr. Sameer Malhotra, Chief Executive Officer of SAMIL.

Under this agreement, SAMIL extends the Automall’s beneficial services to SBI in terms of valuation, assistance in disposal of vehicles, refurbishment of vehicles etc. SBI would also avail the service provider’s parking facility for auto segment, beyond just the tractor segment now. Thus, the association is likely to contribute a much flourished business prospect.

Early this year, SAMIL had entered into a PAN India tie-up with SBI for assisting in business transactions for tractors. With the recent move, SAMIL hopes to take a step ahead to authenticate Auto business transactions as well.  “We are hopeful about exploring fresh opportunities in the auto domain with a favourable impact on our business with this tie-up”, commented Mr. Malhotra.

Shriram Automall offers common meeting platforms for potential buyers and sellers where the valuation of the vehicles is determined through a transparent process. The influential patronage of SBI would certainly aid into better price realisation of pre-owned assets and thereby take the business prospect to the next level. This tie-up with SBI represents yet another feather in SAMIL’s corporate tie-up cap and holds promising future for both the enterprises.

About Shriram Automall India Limited (SAMIL)

Shriram Automall India Limited (SAMIL), one-of-its-kind facility is a wholly owned subsidiary of Shriram Transport Finance Company. It is India's first ever service provider that offers a platform for acquisition & disposal of preowned commercial vehicles, construction and agricultural equipment in an organized and transparent manner. The company has already launched its full-fledged facilities in 27 key locations across India. Moreover, out of over 100 locations there are 66 strategic locations for availing the services under single roof. The Automall offers a common meeting platform, where the valuation of the vehicle is determined through a transparent process. In addition, Shriram Automall also promotes two new initiatives: 'Shriram New Look' and 'Shriram One Stop' which provide value-added services to its potential customers.