Shriram City to focus on gold, personal, small business loans in FY23

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Shriram City Union Finance will focus on personal, gold and small business loans to achieve its 18 percent growth in AUM in the current fiscal year amid a slowdown in demand for two-wheelers due to shortage of components and other factors, a top company executive said.

Noting that the demand in the economy has not yet fully recovered, while rural and semi-urban areas have been doing better now, YS Chakravarti, MD & CEO, said majority of the company's business comes from semi-urban and rural markets and anything good for the rural economy will help the company's business.

"Our focus will be on personal loans, gold loans, and small business loans. In terms of economic recovery, we have not recovered fully. Urban areas are still struggling, to some extent, the rural economy has picked up probably because, once the harvest has been good and in the current year also there is good rainfall prediction," Chakravarti told.