With festivity banks may hay. They increased the interest rate of car loans.
@aninditasen (15746)
Raurkela, India
September 30, 2022 7:15am CST
This is the grand festival month in India. Durga Puja has started and Diwali is knocking at the door. Most families thing this the auspicious time to bring new things home be it clothes, gadgets, vehicles and so on. Some go for loans. Banks are making hay now while the Sun shines. They have increased the interest rates for car loans. So now it's for the people to decide where to cut their pockets instead of spending lavishly during the festivals.
2 people like this
2 responses
@RebeccasFarm (86830)
• United States
4 Oct 22
Yes many people will go for those loans and be in debt too.
1 person likes this
@aninditasen (15746)
• Raurkela, India
5 Oct 22
I don't think so as in India a car is still a luxury. People therefore will avoid taking a car loan and use the public transport.
1 person likes this
@RebeccasFarm (86830)
• United States
5 Oct 22
@aninditasen I see Anindita well then that is good.
1 person likes this
@aninditasen (15746)
• Raurkela, India
6 Oct 22
@RebeccasFarm Yes, let the banks sit on non performance and lose business.
1 person likes this
@aninditasen (15746)
• Raurkela, India
1 Oct 22
That's true. In India festivals keep on coming throughout the year.
