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Rising Auto Loan Defaults Mirror Unequal Impact Of Pandemic
Alongside cabs and commercial vehicles, two-wheeler and three-wheeler loans are showing signs of stress.
23 Jul 2021, 11:11 AM IST
Rising auto loan defaults reported by Indian lenders mirror the unequal impact of the pandemic across the economy. While the self-employed and those working in lower paying jobs are unable to repay dues on smaller ticket two-and-three wheeler loans, wealthier passenger car owners, and those lending to them, remain relatively unscathed.Earnings from banks and non-banks for the first quarter of 2021-22, when the second wave of the Covi...
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