Shriram Automall India Limited (SAMIL), country one-stop destination for pre-owned vehicles and equipment, has joined hands with State Bank of Hyderabad (SBH). With this tie-up, SAMIL marks a successful onset of its association with the bank and extends the benefits of its holistic solutions in the disposal of all types of pre-owned vehicles and equipment. Under this alliance, SAMIL will cater to all the segments of the bank, including pre-owned commercial vehicles, construction equipment, tractors, cars SUVs, three wheelers and two wheelers. The services will be applicable across all the branches, pan India.
Sharing views over the tie-up, Mr. Sameer Malhotra (CEO of SAMIL) quoted, SAMIL unique disposal solutions for pre-owned vehicles and equipment are well accepted by the banking sector. We are going to make an optimum utilisation of our different bidding platforms and facilitate value-for-money transactions to the bank.
The agreement, which was signed at the Bank head office in Hyderabad, states that SAMIL will strategically dedicate its multiple bidding platforms, including physical bidding, online bidding, one stop classified kiosk and private treaty, towards the disposal of banks all types of pre-owned vehicles and equipment.
Under physical bidding, the bank will benefit from Company extensive pan-India reach through over 150 bidding locations, including more than 50 well-structured Automalls. Regular physical and online bidding events have been promised for the bank inventory. The online bidding events will ensure utmost customer convenience and make way for better opportunities in product disposal.
Under this association, we are eyeing at getting maximum value on our pre-owned vehicles and equipment. With SAMIL expertise in the pre-owned space of automobile industry, we are confident of generating huge revenue from our inventory states Mr. G Rajendra Kumar (GM of SBH).
Due to the valuation, documentation, parking and refurbishment services offered by SAMIL, the bank will gain utmost benefit as the service provider will certify the market value of every vehicle and help completely in the decision-making process. Title searching and insurance documentation services will add value to every transaction. Moreover, the 24*7 parking facility will ensure safety of vehicles and refurbishment will increase their market value.
About State Bank of Hyderabad
State Bank of Hyderabad was constituted as Hyderabad State Bank on 8.8.1941 under Hyderabad State Bank Act, 1941. The Bank started with the unique distinction of being the central bank of the erstwhile State of Hyderabad, covering present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra, to manage its currency ndash; Osmania Sikka and public debt apart from the functions of commercial banking. The first branch of the Bank was opened at Gunfoundry, Hyderabad on 5th April, 1942.
In 1953, the Bank took over the assets and liabilities of the Hyderabad Mercantile Bank Ltd. In the same year, the Bank started conducting Government and Treasury business as agent of Reserve Bank of India. In 1956, the Bank was taken over by Reserve Bank of India as its first subsidiary and its name was changed from Hyderabad State Bank to State Bank of Hyderabad. The Bank became a subsidiary of the State Bank of India on the 1st October 1959 and is now the largest Associate Bank of State Bank of India.
About Shriram Automall India (SAMIL)
Shriram Automall India Limited (SAMIL), one-of-its kind facility, is a wholly owned subsidiary of Shriram Transport Finance Company (STFC). It is Indias first-ever service provider that offers various well organised and transparent bidding platforms, including physical, online, one stop classified and negotiated deals, for acquisition disposal of pre-owned commercial vehicles, construction industrial equipment, tractors agricultural equipment, passenger vehicles, three wheelers and two wheelers. The company also provides various allied services, including New Look Refurbishment services, valuation, parking and finance (through STFC). It has successfully launched more than 150 bidding locations, including over 50 well-structured Automalls and nearly 70 strategic parking locations, across India. The company has been awarded ISO 9001:2008 certification for its Quality Management System and rated AA from CRISIL.
For more information, please contact:
Ms. Jyoti Jain (NH-Marketing of SAMIL)
SHRIRAM AUTOMALL INDIA LIMITED
2nd Floor, Best Sky Tower,
F-5, Netaji Subhash Place,