Asian Development Bank provides $100 million loans to Shriram Finance limited

Tags: Economy/Finance

India’s largest Non-Banking Finance Company (NBFC) Shriram Finance Ltd has secured a $100 million loan from the Manila based Asian Development Bank on 30 December 2022.  The loan amount will be used by the Shriram Finance  to provide loans to customers  to buy new or used  BS VI compliant vehicles and electric vehicles", besides providing financial support to women entrepreneurs and under-developed states.

Shriram Finance Limited is the largest retail NBFC in India. It was formed after the merger of mainly Shriram City Union Finance and Shriram Transport Finance.

The headquarters of the company is in Chennai.

Managing Director and Chief Executive Officer: Y S Chakravarti 

Asian Development Bank was set up in 1966 as a regional development bank for Asia and Asia-Pacific region.  The total number of member countries of ADB is 68.

Its headquarters is at Mandaluyong City, Manila, Philippines 

President of ADB: Masatsugu Asakawa