ICICI ties up with GFSL
Saturday 12 February 2000
By Nayeem Quadri -Time of India
SURAT: There is good news for over 80,000 customers of Gujarat Gas Company Limited (GGCL) in Surat. Gujarat Gas Financial Services Limited (GFSL), a subsidiary of GGCL has tied up with ICICI Limited to offer its customers in Surat, retail finance products of ICICI Ltd like auto finance, consumer durable loans and home loans.
"The initial launch on Wednesday would be for car finance to be followed later by other products," Vishwanath Seshadri, head of Credit and Auto Finance, ICICI Ltd said. As part of its strategy to enter new markets in well planned phases, ICICI started its auto finance operations in Surat through GFSL as a franchisee for marketing of auto loans and other retail products.
Stating that GFSL today deals with over 80,000 customers directly, Seshadri said that this would provide a big market to ICICI to offer its RFS products. GGCL is one of the leading companies in combined distribution of natural gas to domestic, commercial and industrial customers in the three south Gujarat cities of Bharuch, Ankleshwar and Surat. It is also in the process of expanding its operations across Gujarat.
"GFSL has been providing its services to customers of GGCL for the last five years. In order to broaden the product basket available to our customers, GFSL has tied up with ICICI," GFSL chairman Edwin Bowles said.
ICICI personal financial services in about 18 months, has tied up with leading manufacturers like Toyota Kirloskar, Daewoo Motors, Hyundai Motors, Ford India And Honda Siel as their preferred financiers to provide customers with varied finance options.
The financial institution offers car loan schemes for almost all cars on the Indian roads today. According to Seshadri, ICICI plans to be a universal bank that would fulfil the financial needs of a customer under one roof. "ICICI Group lays heavy emphasis on technology to provide door step service to customers." |
