New Delhi, Aug. 19 -- India's largest lender, the State Bank of India, on Sunday said that it is extending the repayment period for stressed automobile dealers by 15-30 days to help them out of current inventory builds-ups due to the slowdown in the sector and in economy.

"Normally, the repayment period is 60 days. So we extend it for 75 days for some dealers and to 90 days for a few others. We are talking to each dealer. We also had meetings with the Federation of Auto Dealers. We are actively engaged with all of them.

"On a case to case basis, whichever dealer has faced any problem on account of excess inventories, we have been working out solutions for all of them," SBI's Managing Director, Retail & Digital Banking, P.K. Gupta said....