Shriram Automall Inks Tie-Up with Bank of India for Ranchi Zone

Shriram Automall India Limited (SAMIL), country’s one-stop destination for exchange of pre-owned vehicles and equipment, has joined hands with Bank of India (BOI). With this tie-up, SAMIL marks a successful commencement of its association with the bank and extends the benefits of its holistic solutions for 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 for Ranchi Zone.

Key Highlights

•  Shriram Automall ties up with Bank of India

• Complete solutions for the disposal of bank’s pre-owned commercial vehicles, construction equipment, tractors, cars & SUVs, three wheelers and two wheelers.

• Disposal through all bidding platforms

• Allied Services – Parking, Documentation, Valuation & Refurbishment

• Transparent and hassle-free transactions

Sharing views over the tie-up, Mr. Sameer Malhotra (CEO of SAMIL) quoted; “it feels great to get associated with national banks, this itself is a proof of how well our professional services & proprietary bidding platforms have been accepted. We are happy as well as confident that this tie up will incur benefits for all of us”.

“With this association we are eyeing to get the maximum benefit through Shriram Automall’s expertise in the pre-owned automobile space of the automobile sector. We are confident of generating good revenues from our inventory” said Venkatraman Ranganathan Iyer, Deputy Zonal Manager (Ranchi Zone), BOI

The agreement was signed at the regional bank office in Ranchi & it states that Shriram Automall 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.

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 Bank of India

Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalized along with 13 other banks.

Beginning with one office in Mumbai, with a paid-up capital of Rs.50 Lakh and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalized banks.

The Bank has 4963 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 54 Zonal Offices. There are 60 branches/ offices and 5 Subsidiaries and 1 joint venture abroad.

About Shriram Automall

SAMIL is one-of-its kind facility, is a wholly owned subsidiary of Shriram Transport Finance Company (STFC). It is India's first-ever service provider that offers various well organized 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. Company has its presence all over the country with its already established 55 Automalls and 100+ bidding locations. The company has been awarded ISO 9001:2008 certification for its Quality Management System and rated AA+ from CRISIL.