Almost Two-Thirds of Auto Industry Loan Requirements Taken Care By Private, Foreign Lenders: Report
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Nearly two-thirds of the auto industry's loan requirements are taken care of by the private and foreign lenders in the country, a report said on Tuesday. Referring to data dating back to June 2020, Crif High Mark, a credit information company, said state-owned lenders lead by loan volumes, accounting for nearly 35 per cent of the loans.
In terms of value of the loans extended, private sector lenders have the largest share at 41.4 per cent, foreign banks accounted for 24.4 per cent and state-owned lenders came third with 19.6 per cent share, the report prepared by the company in association with Sidbi said. The auto industry had been facing problems because of the fall in economic growth and regulatory changes before the pandemic itself.