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regular-article-logo Wednesday, 06 November 2024

Car dealers seek relaxation of loan repayment terms from the RBI

Our Special Correspondent New Delhi Published 11.05.21, 12:46 AM
Representational image.

Representational image. Shutterstock

Car dealers have sought relaxation in the terms of the repayment of their loans from the Reserve Bank of India, following a drop of 28 per cent in vehicle registration in April.

The dealers have appealed to the Centre to direct the RBI to offer relief linked to the number of days of lockdown announced by each of the states.

Vehicle registration fell 29.85 per cent to 1.5 crore units in 2020-21, the lowest in the last eight years, the Federation of Automobile Dealers Associations said on Monday. In 2019-20, the number of vehicles registered were much higher at 2.1 crore units.

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