Lending for used commercial vehicles on rise: Revankar

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Kochi, Feb 13 (UNI) Lending for used commercial vehicles has grown at a brisk rate in the past few years, Shriram Transport Finance Co Ltd (STFC) Executive Director U G Revankar said today.

Addressing the press here, Mr Revankar said the company's business stood at almost Rs 16,000 crore today compared to Rs 6,000 crore five years ago.

''There is a good demand for finance for used commercial vehicles, which is generally ignored by banks and financial insitutions which are more interested in giving loans for new vehicles,'' he said.

Mr Revankar said the STFC, which was the flagship company of the Shriram Group, had a customer base of six lakh small truck operators.

It had 412 branches all over the country and 6,000 field staff.

In an effort to get better acquaintance with its customers' needs and to tell them about the company's new products, such as finance for vehicle repair and maintenance, the STFC had been holding ''Truck Utsavs'' in different parts of the country.

The tenth event in the series would be held here tomorrow. The company plans to hold a total of 15 such events this financial year.

Apart from stalls displaying the company products, the event would also include a medical check-up camp for truck opeators and their family members, he added.

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