Shriram Automall India (SAMIL), 100% subsidiary of Shriram Transport Finance Company (STFC), has entered into a strategic tie-up with State Bank of Bikaner & Jaipur. Under the association, SAMIL will provide its services in order to facilitate the disposal of bank’s pre-owned cars and tractors. It will carry out the disposal of their assets through its bidding platforms.

Commenting on the tie-up, Sameer Malhotra (CEO of SAMIL) stated, ''Through our well-structured bidding platforms and services, we are going to follow a completely transparent approach in the disposal of SBBJ’s pre-owned cars and tractors. Together with them, we aim at changing the unfair practices that are still prevalent in the pre-owned automobile industry.''

According to the pact signed between SAMIL and SBBJ, on Oct. 20, 2014 at the bank's Head Office, Jaipur in the presence of top executives of both entities, SAMIL will conduct bidding events for the disposal of SBBJ's pre-owned cars and tractors at its Automalls and yards. Apart from physical bidding, the company is also going to utilize its online bidding events, private treaty and one stop classified kiosk while following a 360 degree approach for better price realization on the assets.

''Through an association with Shriram Automall, SBBJ looks forward to a quick and easy disposal of pre-owned cars and tractors. For this particular segment, we want an organized and transparent approach in the disposal process. With SAMIL's bidding platforms, we eye at best prices for our assets'', quoted Jyoti Ghosh, managing director of SBBJ, who graced the occasion with his presence along with other top executives of the Bank at the tie-up ceremony.

The bank will also benefit from SAMIL's huge parking locations which ensure safe and secured parking of all the vehicles and equipment. Moreover, through its valuation service, the Company will help in disposing SBBJ’s every asset at an apt price. SAMIL plans to divert the expertise of its professionals towards identifying the correct market value of the bank's pre-owned cars and tractors.  

With this association, SBBJ will completely benefit from SAMIL's fair and secured transactions due to which the company earns a leading edge over other players in the market. SAMIL has also entered into tie-ups with State Bank of India, State Bank of Travancore, Vijaya Bank, TATA Motors, Escorts, John Deere and New Holland. 

Shares of the bank gained Rs 7.4, or 1.32%, to trade at Rs 568. The total volume of shares traded was 175 at the BSE (11.04 a.m., Tuesday).