Equifax Credit Information Services has announced that the delinquency rate, a key measure of the quality of outstanding loans used by banks and NBFCs, has increased for commercial vehicle (CV) loans in the past six months, based on lender submitted data to Equifax India’s “Market Monitor Report” published in September. According to the data, delinquencies by number of CV loan accounts that are more than 30 days outstanding have increased by ~ 18%, from ~11% to around 13% of the loan accounts 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 by 20%, from ~2.5% to around 3% of the accounts. The report mentions that lenders should closely watch for any negative changes in payment history on their existing loans using their own data and products from Equifax like Portfolio Review and Alerts. These products coupled with customized analytics will prove to be powerful tools to monitor their portfolio of accounts and take appropriate and timely action on them. Equifax India currently has over 400 registered members (Banks, NBFC’s and MFIs) in India.
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