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CORPORATE OVERVIEW
coLLaBoRationS FoR GRoWinG the vehicLeS veRticaL
FY 2019-20 achievementS
Received 100% payments through Standing Instructions (SI) autopayment
Sourced 84% customers through our branches
Recorded zero NPAs
Served 57% women customers
Catered to 74% self-employed people
Increased loan range from `85,000 to `125,000 to cater to a large customer segment
Road ahead
Despite the pandemic and challenging consumption demand across India, experts predict a hike in the sale of personal vehicle because of people avoiding public transport. Besides, rural borrowers are expected to recover faster with the return of the workforce after their exodus from the cities.
this, along with good rabi harvest will create need for finance in
the rural markets, especially for commercial and personal vehicles.
Moreover, the sale of vehicles
in urban and semi-urban areas
is likely to increase as well, especially now that the lockdown is systematically being lifted.
The demand for personal vehicle rose to 15%, which is double
of what it would have been otherwise. At the Bank, we are developing more innovative products to offer our customers a more personalised experience. We plan to expand our reach through new and exciting products and services mix.
We partner with several Original equipment Manufacturers (OEMs) such as Mahindra, Kinetic, OLA Electric, Mayuri (E 3W) and other E 3W OEMs. Of these, Mahindra is ready to start Small Commercial Vehicle (SCV), along with E 3W expansion. We are
also in the final stages of signing long-term deals with Smart
e – A platform for e 3W, first loss default guarantee (FLDG) and Electric Auto -Structure and Commercial Discussion (Lead & Collection Management) with Three Wheels Union, an NBFC. Partnerships with TVS, Piaggio, SmartE, TWU, Bike Dekho,
Car Dekho are in discussion stages as well.
We will focus on E 3W segment
and broaden our scope to include electric-two-wheeler (E 2W) and used cars, along with mini and micro commercial vehicle.
During the upcoming financial year, we look forward to the launch of our Loan Origination System (LOS) with other added features for a seamless execution. We are also planning
to introduce new digital features such as digital bank statement analyser, video KyC, ID verification, e-mandate and e-agreement.
We will focus on strengthening our vehicle financing in rural and semi-urban India and build a stronger portfolio.
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