Commercial vehicle loan defaults rise: report

Deliquencies of commercial vehicle loan accounts increased from 13% to 11% in first half of 2013

Equifax Credit Information Services, a credit information and risk management services providing company, today reported that the delinquency rate for commercial vehicle (CV) loans in the past six months has shown an increase. 

 

According to data supplied to Equifax India’s “Market Monitor Report” published in September.delinquencies by number of CV loan accounts that are more than 30 days outstanding have increased to 13% from around 11% in the first half of 2013. 

 

In the same period, delinquencies by number of CV loan accounts that are more than 90 days outstanding have increased to around 3% from around 2.5% of the accounts. 

 

Equifax India currently has over 400 registered members (Banks, NBFC’s and MFIs) in India.