New Delhi, Aug. 19 -- The country's largest public sector lender State Bank of India (SBI) has extended the credit period of automobile dealers that are facing severe slowdown in demand resulting in inventory build-up.
Facilitating the auto dealers, the bank has extended the credit period from 60 days to 75 days in some cases or 90 days in others, according to SBI's statement.
SBI Managing Director, PK Gupta said, We are actively engaging with the auto dealers and in case of hardship faced by them the bank is extending credit repayment period on the case to case basis.
Normally the credit period is of 60 days but the bank has extended the same to 75 days in some cases or 90 days in others, Gupta told reporters.
He stated As a bank,...