Shriram Transport signs MOU with Indian Oil Corporation to offer fuel credit to its customers digitally

CHENNAI: Shriram Transport Finance Company (STFC) has signed a MOU with Indian Oil Corporation (IOCL) through which its customers will be offered credit limit to purchase fuel from their outlets.
This will enable STFC customers to have an efficient way of purchasing auto fuels like diesel, petrol and lubricants at credit through wide network of IOCL. Fuel finance service will be a cash/card-free transaction, the company said.
STFC offers various loan products including commercial vehicle finance and tyre loans said this credit facility is an affordable low-cost working capital solution to monitor and control fuel expenses.