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Shriram Housing Finance to foot the bill for customers' covid vaccines

Ravi Subramanian, chief executive of Shriram Housing Finance said it has come up with the covid vaccination programme for its customers in the affordable housing space, as they 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.Premium
Ravi Subramanian, chief executive of Shriram Housing Finance said it has come up with the covid vaccination programme for its customers in the affordable housing space, as they 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.

  • The lender said 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

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.

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