DoP, TVSFS tie up for selling loan products

Chennai, Aug 14: The Department of Posts (DoP) has entered into a unique marketing tie up with TVS Finance and Services Ltd (TVSFS) with the DoP selling loan products in its capacity as franchise of TVSFS.

TVSFS President V Ramesh told newsmen here today the arrangement was an extension of its successful business relationship with the DoP.

With its huge network of post offices, the DoP was best suited to sell the company's products focused on rural and semi-urban markets.

The franchisee initiative would be launched at Madurai and Tirunelveli on August 25 and from October it will be scaled up to cover all the districts in Tamil Nadu within the next six months, he added.

The venture was expected to generate Rs 20 crore in annual revenue.

In his briefing, Mr Ramesh said TVSFS was a leading player in retail finance market with a basket of products comprising loans for purchase of two wheelers, consumer durables, personal computers and micro-finance. It had strong presence in many districts of South India, Rajasthan, Western Uttar Pradesh and Uttaranchal.

With its huge customer base, TVSFS could succefully cross sell many products to them.

Ms Vatsala Raghu, Member, Operation and Maintenance, DoP said with 11,200 post offices in the state, the DoP offered unmatched geographical coverage.Most of its 12,000 postmen will be involved in selling the company's loan products.

She sounded confident of making the relationship a path breaking initiative by positively impacting DoP's revenues.

Chief Postmaster General Radhika Doraiswamy said as the DOP had an existing relationship with the TVSFS, their systems and people were geared to implement the initiative successfully.

UNI