Shriram Automall India Ltd. (SAMIL), a subsidiary of Shriram Transport Finance Company (STFC), has announced its national level tie-up with the State Bank of India (SBI). Under the agreement, SBI will avail the service provider’s parking and disposal facility for farm equipments to start with. However, the association will further strengthen as the bank is also likely to benefit with the other services provided by the automall like valuation, refurbishment of vehicles and searching of the title documents of the assets.
“The tie-up, a partnership between India’s leading service provider for pre-owned vehicles and equipment and the largest Indian public sector bank, is with the objective of bringing more farm, automobile and heavy equipment clientele to Shriram Automall, along with bringing faster and transparent collection efficiencies for SBI”, said Mr. Sameer Malhotra, Chief Executive officer of Shriram Automall India Ltd.
This tie-up with SBI represents yet another feather on SAMIL’s corporate tie-up cap and holds promising future for both the enterprises.
SAMIL is India’s first-ever service provider that offers a transaction platform for facilitating easy transactions between the owners and buyers of pre-owned commercial vehicles, construction and agricultural equipments in an organized and transparent manner. This initiative was started in February 2011, and in its second year of operations, the company has launched its full-fledged facilities in 17 key locations across India.
The Automall offers a common meeting platform for potential buyers and sellers 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’, to provide value-added services to its potential customers.