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Delinquency rate in CV segment rise

Delinquency rate in CV segment rise

22 Oct 2013
Afternoon Dispatch & Courier

Edition: Page 23

 

Delinquency rates in the commercial vehicle segment may have increased in the past 6 months, according to a report. "Delinquencies by a number of CV loan accounts that are more than 30 days outstanding have rose to 13 per cent from around 11 per cent, a growth of 18 per cent in the first half of 2013," credit information service provider Equifax Credit Information Services said in a report.

"In the same period, delinquencies by CV loan accounts that are more than 90 days outstanding have increased to 3 per cent from 2.5 per cent," the report added.

Equifax Credit Information has over 400 registered members from various banks, NBFCs and MFIs. It is a joint venture between Equifax Inc of the US and six domestic financial institutions - Bank of Baroda, Union Bank of India, Bank of India, Kotak Mahindra Prime, Religare Finvest, and Sundaram Finance.

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