Mumbai, July 1, 2019: Retail and MSME financing major Shriram City Union Finance Ltd. (SCUF) announces the appointment of Mr. Y S Chakravarti as Managing Director & Chief Executive Office of Shriram City Union Finance Company Ltd. Mr. Chakravarti was earlier the Executive Director & Chief Operating Officer of the company.
Mr. Chakravarti is a retail finance professional with over 2 decades of experience in the field of financial services. He has also been serving as a Director of Shriram Housing Finance Limited since November 2010. Y S Chakravarti started his career with Shriram Group in 1991. He moved to Shriram City Union Finance Company Ltd. in 2008, handling the business in the State of Andhra Pradesh which contributes close to 40% of the overall SCUF retail business. Since 2010, he has been working as Business Head and Chief Operating Officer of the company.
Mr. Duruvasan who was the Managing Director of Shriram City Union Finance since June 2012 has taken SCUF to greater heights and will now continue as Non-Executive Director to guide the current Management and to also ensure a smooth transition. Going forward Mr. Duruvasan’s role will be focusing on the growth and development initiatives of multiple entities in the Group.
About Shriram City Union Finance Ltd. (BSE: SHRMCITY, NSE: SHRIRAMCIT):
Over three decades old, Shriram City is among the more important players in the retail financing space. The company offers multiple loan products to small business owners and for acquiring assets such as two wheelers, commercial vehicles, passenger vehicles and homes. It also offers loans against gold ornaments and for personal consumption. A deposit-accepting NBFC, Shriram City is a part of the over Rs. 1 Lac crore Chennai-based Shriram Group.