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In a bid to diversify into greener pastures, Shriram Transport Finance Company Ltd (STFC), the flagship company of Chennai-based Shriram Group, is venturing into the gold loan segment. The company would be partnering with one of its group companies, Shriram City Union Finance Ltd, to disburse gold loans through its 700 branches across the country.Shriram City provides personal loans, consumer loans, vehicle loans, jewel loans and small & medium scale enterprise finance, predominantly in South India.Addressing the media, STFC managing director R Sridhar said, "We will be generating a fee-based income by venturing into gold loan segment, even though, all the transactions would be in Shriram City's book. Since STFC has a network of 8 lakh traders and 10-15 lakh investors, building a customer base won't be a problem."
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