Shriram Transport Finance becomes first NBFC in India to issue deposit certificates using blockchain!

This has to be one of the most rapid-changing technology & communications landscape that we have ever been in. Ten years ago, you probably did not think about conducting a meeting with your clients from a remote place and now, it’s hard to imagine life or your business without it.   

So, directly or indirectly, there’s no doubt that technology has played a huge part across the industry or business. You can choose to change with time, take advantage of new opportunities in your industry and prosper your business. Or you can fight the changes, refuse to adapt and watch your business getting slowly crumbled.   

Shriram Transport Finance is seen adopting the former as part of their ongoing digital-first approach. The company has launched India’s first blockchain assured digital FD certificates to provide 100 per cent cryptographic security and authenticity on its private blockchain with seamless customer service.  

Currently, ShriramUnnati Fixed Deposits scheme offers the highest return rate up to 7.75 per cent interest rates. Senior Citizens can avail higher additional returns of up to 0.30 per cent and above the normal interest rates.  

The company is associated with Novac Technology Solutions as a digital solution partner, and it has also onboarded the award-winning start-up - Print2Block from Chennai for issuing deposit certificates using blockchain technology on its Docchain.io platform. The company has plans to onboard other start-ups to leverage the optimal use of blockchain technology. Furthermore, it is focussed on adopting innovative technology and is keen to continue leveraging the strong technology of blockchain.