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Commercial Vehicle loan defaults rise

Commercial Vehicle loan defaults rise

22 Oct 2013
Mint

Edition: Page 20

 

Defaults on borrowings by commercial vehicle buyers have risen 20% in the first half of current fiscal, according to a report by credit bureau firm Equifax Credit Information Services Pvt. Ltd.

Delinquency rate, a key measure of the quality of outstanding loans used by banks and non banking financial companies (NBFCs), has increased for commercial vehicle loans in the past six months, Equifax credit said in a statement on Monday.

According to the data, delinquencies by the number of CV loan accounts that are more than 30 days outstanding have increased by 18%, from 11% to 13% of the loan accounts in the first half of 2013.

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