The move comes as Shriram Finance looks to capitalise on MUFG’s expertise. Japan’s MUFG Bank Ltd. has invested Rs 39,617.98 crore for a 20 per cent stake in the company.
In a media interaction in Chennai, Revankar said that MUFG had a strong relationship with Japanese manufacturers and would like to bring it into India. There are 1490 Japanese manufacturers in India who were providing various manufacturing and services, he said. Revankar said that Shriram would look at whether that ecosystem – be it dealer, sub-dealer or components – could be financed. “There is lot of opportunity for us to work together with the manufacturers. They also want to build manufacturing base in India,” he said.
Revankar said that the company expected to grow 18 per cent in fiscal 2026-2027. “In the first quarter, we grew at 15 per cent. In the second quarter also, we will be at the same level. Post that, we should be able to grow faster,” he said.
On the Reserve Bank of India’s proposal to ban revolving credit facilities offered by non-banking finance companies, Revankar said that the company had met the regulator and explained about the product. “It is only draft guidelines. Hopefully, they will make some changes,” he said.
Revankar also pointed out that that the revolving credit was only a small portion of NBFC business. Out of the total size of Rs 30 lakh crore, it was only around Rs 2 lakh crore, he said. Revankar said that the RBI might say that every three years the credit worthiness of customer availing revolving credit should be reviewed.