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INDIAN (B)

SBI tightens lending terms for auto dealers: Report

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The shadow banking crisis that began to unfold in India in mid-2018 has deepened this year. The liquidity crunch in non-bank financing, higher insurance costs and rise in taxation have increased pressure on the car sector with monthly sales falling by 17-20%. SBI has tightened lending terms dramatically for auto dealerships to reduce its exposure to risk.



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