SBI has an exposure of Rs.11,500 crore to Auto Dealers
Mumbai sources reported that India’s largest lender State Bank of India (SBI) is extending loan repayment time for stressed automobile dealers by 15 to 30 days amid slowing car sales, a top bank official said. “Normally, the repayment period is 60 days. So, we extend it to 75 days for some dealers and to 90 days for a few others," P.K. Gupta, managing director of SBI, told reporters. The bank has an exposure of ₹11,500 crore to auto dealers.