STFC launches co-branded credit card for SRTO

Ahmedabad, May 1 (UNI) Shriram Transport Finance Company Limited (STFC), a leading player in the NBFC segment and India's largest truck financing company, has started a unique Shriram-UTI Bank co-branded credit card for the small road transport operators (SRTO).

The card was launched recently on a VISA platform and will be very useful to the SRTO in meeting his day-to-day working capital requirements. By using this co-branded credit card, the SRTO can withdraw cash from ATM, buy fuel, tyres, oil, batteries etc in addition to the usual benefits that are available with other cards, STFC Executive Director Umesh Revankar here said.

The company today announced a get-together of small truck operators of the State.

Bollywood actor Dharmendra would be hosting the event.

Mr Revankar said about 500 truck owners and their family members, from all over the State, are expected to attend the event.

As part of their aggressive marketing plan, STFC had organised similar events in Jaipur, Chandigarh, Hyderabad, Kolkata and Lucknow.

''To retain our leadership position in the NBFC segment, we have charted our ambitious growth plan for the current year, which will be supported by a media blitz comprising of advertisements, innovative schemes and events spread over the next six months. We are confident that Dharmendra's association with the brand would further strengthen our initiatives in improving the lives of the truck owners and drivers who play a crucial role in shaping the economy of the country,'' Mr Revankar said.

In order to provide value-added services to truck owners, the company has introduced innovative products viz finance for reconditioned trucks, truck exchange programmes, tyre finance, working capital and engine replacement finance. Other unique schemes include free mobile phones for truck owners and loyalty reward programmes.

Nearly 80 per cent of truck owners are small operators and they form our backbone, Mr Revankar said adding that the company's loan outstanding was at Rs 11,000 crores with a five lakh customer base and the market size is Rs 40,000 crore, he said.

Shriram Transport Finance Company Limited is the flagship company of the Rs 6,000 crore Shriram group, which has significant presence in chit funds, insurance, consultancy, consumer durables, finance and stock broking business.

UNI