State Bank of India (SBI), country’s largest public sector lender has inked pact with Shriram Automall India, a subsidiary of Shriram Transport Finance Company, for helping post-seizure, warehousing and sale of seized tractors through organized public sale. With this tie-up, SBI can explore lending opportunities in a market for pre-used tractors.
Shriram Automall will benefit in better price recovery of impaired assets in the form of tractor loans, as Shriram Automall will offer end-to-end solution through more than 65 auto malls. The auto mall offers a common meeting platform for potential buyers and sellers where the valuation of the vehicle is determined through a transparent process.
