Shriram Automall Inks Tie-Up with State Bank of India for its SME Segment

Key Highlights

• Shriram Automall ties up with State Bank of India, SME vertical with a Pan India Agreement

• Complete solutions for the disposal of pre-owned commercial vehicles, construction equipment, three wheelers and two wheelers.

• Disposal through all bidding platforms

• Transparent and hassle-free transactions

Shriram Automall India Limited (SAMIL), India's No.1 platform for exchange of pre-owned vehicles and equipment, has joined hands with State Bank of India. With this tie-up, the company marks a successful commencement of its association with the bank and extends the benefits of its holistic solutions for the disposal of all types of pre-owned vehicles and equipment. Under this alliance, Shriram Automall will cater to all the segments of the State Bank of India, including pre-owned commercial vehicles, construction equipment three wheelers and two wheelers.

From Left to Right: Mr. Surendra Rana, SBI DGM and Mr. Sudeep Banarjee, National Head Business Development

Sharing views over the tie-up, Mr. Sameer Malhotra (CEO, Shriram Automall India Limited) quoted: "This is a proud moment for all of us at Shriram Automall, getting associated with State Bank of India; India's leading bank is a proof that our professional services for acquisition & disposal of pre-owned vehicles & equipment have been accepted very well. We are happy as well as confident that this tie up will incur benefits for both of us."

"With this association we are eyeing to get the maximum benefit through Shriram Automall's expertise in the pre-owned automobile space. We are confident of generating good revenues from our inventory through their effective resale platforms" said Mr. Surendra Rana, SBI DGM.

The agreement was signed at the SBI, Corporate centre, Madam Cama Road, SBI Bhuvan, Nariman Point, Mumbai stating that SAMIL will strategically dedicate its multiple bidding platforms, including Physical Bidding, Online Bidding, OneStop Classified Kiosk and Private Treaty, towards the disposal of the institutions all types of pre-owned vehicles and equipment.

State Bank of India will gain utmost benefit as the service provider will certify the market value of every vehicle and help completely in the decision-making process. Moreover, the 24*7 parking facility will ensure safety of vehicles and refurbishment will increase their market value.

About State Bank of India

SBI is India's largest bank (and among the top 50 banks in the world), with around 24,000 branches in India and 123 offices in 25 foreign countries. It serves all segments of the economy and society, be it Corporate Finance, MSME Finance, Agriculture Finance or finance for personal assets.

Not many financial institutions in the world today can claim the antiquity and majesty of the State Bank of India. Founded nearly two centuries ago, SBI has adapted to a changing world and the need of the hour. A highly efficient and experienced management, functioning in a well-defined organizational structure, has not taken long to place the Bank on an exalted pedestal in the areas of business, profitability, internal discipline and above all credibility. An impeccable financial status, consistent maintenance of the lofty traditions of banking and observance of a high standard of integrity in its operations helped the Bank maintain its pre-eminent status.

A vibrant MSME segment is of utmost importance to meet the macro-economic goals of the country, and SBI with its largest network of branches across the length and breadth of the country is serving more than 1.1 million SME customers.

About Shriram Automall

SAMIL is one-of-its kind facility, is a wholly owned subsidiary of Shriram Transport Finance Company (STFC). It is Indias first-ever service provider that offers various well organized and transparent bidding platforms, including physical, online, one stop classified and negotiated deals, for acquisition & disposal of pre-owned commercial vehicles, construction & industrial equipment, tractors & agricultural equipment, passenger vehicles, three wheelers and two wheelers. Company has its presence all over the country with its already established 70 Automalls and 150+ bidding locations. The company has been awarded ISO 9001:2008 certification for its Quality Management System and rated AA+ from CRISIL.