TVS Credit Services

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company

TVS Credit Services is an Indian financial services company with operations across 21 states.[1] Commonly referred to as TVS Credit, the company provides debt financing for a variety of products, including two-wheeler, cars, three-wheeler, and tractors.[2][3][4][5]

With a book size of over Rs. 6000 crore,[6] and an employee count of over 10,000,[6] TVS Credit Services is the leading financier of two-wheelers manufactured by TVS Motor Company Limited and tractors manufactured by Tractors And Farm Equipment Limited.

In 2017, TVS Credit entered the consumer durable financing segment, thereby marking its first venture outside automobile finance.

History

Template:Unreferenced section Incorporated in 2008, TVS Credit Service Ltd. took over the business of TVS Finance and Services Ltd.in 2010.

The company was registered as a non-deposit taking NBFC [7] in the same year. This marked the beginning of a period of growth and expansion, with the company setting up its tractor and used car financing businesses in 2012.

The company has since financed 2.9 million customers in the last eight years, which has resulted in the creation of an asset base valued at over INR 6,000 crore.[6]

In 2017, TVS Credit launched its consumer durable financing business, thereby making its first foray beyond automobile finance.

Products

  • Two Wheeler - The two-wheeler financing business is the oldest and largest component of the portfolio, constituting 49% thereof.  The company exclusively finances two-wheelers manufactured by TVS Motor Company. Over 5 lakh two wheeler loans were disbursed over the financial year of 2017.[8]  
  • Cars :  TVS Credit finances pre-owned and new cars, which together comprise 29% of the portfolio. [9]
  • Tractors : The third-largest contributor to the portfolio, the tractor financing business accounts for 21% thereof.  The company finances tractors manufactured under the Eicher and TAFE brands.[10]
  • Three Wheelers:  The company finances three wheelers manufactured by TVS Motor Company Ltd.  
  • Consumer Durables: In 2017, the company entered the consumer durable financing space, thereby marking its first foray beyond automobile financing. [11]

Products

2018

  • Best BFSI Company – ET Now Makers of Developed India Awards  

2017

  • Best CEO Award - South Asia’s BFSI Leadership Awards
  • Best use of Mobile Technology in Financial Services – South Asia’s BFSI Leadership Awards
  • Innovation in Learning and Development – Human Resources Development and Management Awards (Indian HR Convention)[12]
  • Employee Engagement Strategy – Human Resources Development and Management Awards (Indian HR Convention) [13]

2016

  • Winner of Asia Pacific HRM Congress Award for Most Innovative HR Practices in Training[14]  
  • Indian HR Convention & HDM Award for HR Innovation through Technology in Training [15]
  • Winner of the 4th Learning & Development Summit (Case Competition) 2016 for the best case study in “5A Learning - Anywhere, Anytime, Any Content, Any Device, anyone” Organized by National Human Resource Development Network (NHRDN)[16]

References

  1. Babu, Gireesh (2017-09-07). "TVS Motor acquires entire stake of TVS MS". Business Standard India. http://www.business-standard.com/article/companies/tvs-motor-acquires-entire-stake-of-tvs-ms-117090701434_1.html. 
  2. "DCB Bank ties up with TVS Credit Services" (in en). @businessline. https://www.thehindubusinessline.com/money-and-banking/dcb-bank-ties-up-with-tvs-credit-services/article7905634.ece. 
  3. "Easy, flexible two wheeler loans from TVS Credits" (in en). https://www.tvscredit.com/two-wheelers.aspx. 
  4. "Used Car loans from TVS Credits" (in en). https://www.tvscredit.com/used-cars.aspx. 
  5. "Tractor loans from TVS Credits" (in en). https://www.tvscredit.com/rural-finance.aspx. 
  6. 6.0 6.1 6.2 TVS Credit Services Annual Report 2016-2017. TVS Credit Services. 2016-2017. 
  7. "TVS Credit Services Limited: Private Company Information - Bloomberg". https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=247867062. 
  8. "Easy, flexible two wheeler loans from TVS Credits" (in en). https://www.tvscredit.com/two-wheelers.aspx. 
  9. "Used Car loans from TVS Credits" (in en). https://www.tvscredit.com/used-cars.aspx. 
  10. "Tractor loans from TVS Credits" (in en). https://www.tvscredit.com/rural-finance.aspx. 
  11. "TVS Credits leadership team" (in en). https://www.tvscredit.com/leadership-team.aspx. 
  12. www.forpressrelease.com, Arnav Anand, [email protected], forpressrelease,. "Indian HR Convention 2017 and HDM Awards Focuses on Worldwide Challenges for HR Professionals from an Indian Viewpoint". https://www.forpressrelease.com/forpressrelease-385358-indian-hr-convention-2017-and-hdm-awards-focuses-on-worldwide-challenges-for-hr-professionals-from-an-indian-viewpoint.html. 
  13. www.forpressrelease.com, Arnav Anand, [email protected], forpressrelease,. "Indian HR Convention 2017 and HDM Awards Focuses on Worldwide Challenges for HR Professionals from an Indian Viewpoint". https://www.forpressrelease.com/forpressrelease-385358-indian-hr-convention-2017-and-hdm-awards-focuses-on-worldwide-challenges-for-hr-professionals-from-an-indian-viewpoint.html. 
  14. "Asia Pacific HRM Congress" (in en). https://www.asiapacifichrmcongress.com/asia-pacific-hrm-congress-awards.html. 
  15. "Winners of HR Development & Management Awards 2016 | Indian Conventions" (in en-US). Indian Conventions. 2017-09-25. https://www.indianconventions.com/winners-of-hr-development-management-awards-2016/. 
  16. "TVS Credit Services LTD - Chennai, India" (in en). https://yellow.place/en/tvs-credit-services-ltd-chennai-india.