Shriram City Union Finance Limited - Karvy

SECTION IV : ABOUT THE ISSUER COMPANY AND THE INDUSTRYINDUSTRYThe information in this section is derived from various government publications and other industry sources. Neitherwe, nor any other person connected with the issue has verified this information. Industry sources and publicationsgenerally state that the information contained therein has been obtained from sources generally believed to bereliable, but their accuracy, completeness and underlying assumptions are not guaranteed and their reliabilitycannot be assured and accordingly, investment decisions should not be based on such information.In connection with the report by CRISIL Research titled "CRISIL - Retail Finance - Auto – May 2010", CRISILLimited has used due care and caution in preparing the aforementioned report. Information has been obtained byCRISIL from sources it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy orcompleteness of any information and is not responsible for any errors or omissions or for the results obtained fromthe use of such information. No part of the aforementioned report may be published / reproduced in any formwithout CRISIL’s prior written approval. CRISIL is not liable for any investment decisions which may be based onthe views expressed in the aforementioned report. CRISIL Research operates independently of, and does not haveaccess to information obtained by CRISIL’s Rating Division, which may, in its regular operations, obtaininformation of a confidential nature that is not available to CRISIL Research.Frost & Sullivan India Private Limited has used due care and caution in preparing the report titled “Analysis ofMSME Loan Markets for NBFCs – July 2011”. Information has been obtained from sources that Frost & SullivanIndia Private Limited considers reliable. However, Frost & Sullivan India Private Limited does not guarantee theaccuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for theresults obtained from the use of such information. No part of the said report may be published / reproduced in anyform without Frost & Sullivan India Private Limited’s prior written approval. Frost & Sullivan India PrivateLimited is not liable for investment decisions which may be based on the views expressed in the said report.Indian EconomyIndia is the world’s largest democracy by the population size with an estimated population of approximately 11,900Lakhs (July 2011 estimate). It is also one of the fastest growing economies in the world with the real growth rate ofGDP being 8.5% (Source: Press Information Bureau, Government of India, Press Note dated May 31, 2011). TheInternational Monetary Fund has projected India’s year on year growth at 8.2% for 2011(Source: World EconomicOutlook Projections – International Monetary Fund – June 2011).Structure of India’s Financial Services IndustryThe RBI is the central regulatory and supervisory authority for the Indian financial system. SEBI and the IRDAregulate the capital markets and insurance sector, respectively. A variety of financial intermediaries in the public andprivate sectors participate in India’s financial sector, including the following:• Commercial banks;• NBFCs ;• Specialized financial institutions like the National Bank for Agriculture and Rural Development(NABARD), Export-Import Bank of India (EXIM Bank), the Small Industries Development Bank of India(SIDBI) and the Tourism Finance Corporation of India (TFCI);• Securities brokers;• Investment banks;• Insurance companies;• Mutual funds; and• Venture capital funds.63