Active Stocks
Mon Sep 25 2023 14:40:34
  1. Tata Steel share price
  2. 127.15 0.36%
  1. NTPC share price
  2. 239.1 0.48%
  1. Wipro share price
  2. 413.5 -1.23%
  1. Tata Motors share price
  2. 620 -0.18%
  1. Infosys share price
  2. 1,475.1 -1.4%
Business News/ Companies / News/  Shriram Housing Finance to foot the bill for customers' covid vaccines

MUMBAI : At a time when several companies are reimbursing covid-19 vaccination cost for employees, a mortgage lender has decided to extend this benefit to customers as well.

Shriram Housing Finance Ltd (SHFL), an affordable housing finance company, said it will absorb the cost of covid-19 vaccination for customers. The lender said in a statement on Friday that it has always had a customer-first approach and has always believed and supported the well-being and welfare of its customers all through the pandemic. It is a subsidiary of Shriram City Union Finance and began operations in December 2011.

Ravi Subramanian, chief executive, Shriram Housing Finance said, “At Shriram Housing Finance, our employees and customers have always been our priority. While we had earlier announced reimbursement of costs of vaccination for our employees, we have now extended the same for our customers as well."

Customers in the affordable housing space, Subramanian said, are not very well-off and for them even the small sum to be incurred in vaccination through private players can become a big deterrent.

“This in turn can derail the vaccination drive. We believe that this initiative will take out the dissonance and enable customers to take affordability out of the equation when they make the vaccination decision. We would be reaching out to all customers with details of this programme," he added.

The lender had 13,515 customers and 772 employees, as on 31 December. It’s assets under management (AUM) was at Rs3,138 crore in Q3FY21, up from Rs2,100 crore in the same period last year.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Shayan Ghosh
Shayan Ghosh is a national writer at Mint reporting on traditional banks and shadow banks. He has over a decade of experience in financial journalism. Based in Mint’s Mumbai bureau since 2018, he tracks interest rate movements and its impact on companies and the broader economy. His interests also include the distressed debt market, especially as India’s bankruptcy law attempts recoveries of billions worth of toxic assets.
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 30 Apr 2021, 04:02 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App