Transporters prepare to hand over 50,000 vehicles to lenders

-

Mumbai, Ta. 18 August 2020, Tuesday

Due to sluggish economic activity, low freight rates and the moratorium closing on August 31, a large number of transporters in the country are planning to hand over their vehicles to their creditors.

According to estimates by the Indian Foundation for Transport Research and Training, transporters are set to deliver about 20,000 vehicles to lenders in the near future.

In August, freight rates fell by 10 per cent compared to July, raising concerns among transporters. The situation is quite bleak.

Some people are planning to reduce trade while some are considering closing down businesses. The situation will worsen after August 31 when the moratorium closes. As the transporters are not in a position to repay the loan, they are preparing to hand over 5,000 to 20,000 vehicles, sources in the foundation said.

When old loans show no signs of repaying, new loans seem difficult to obtain. Loan rejection rates will be much higher. However a company providing vehicle loans claimed the situation was not so serious.

Transporters do not appear to have surrendered their vehicles. This is an air being raised. Financiers will be ready to solve the problem, he added.

The situation is improving as the lockdown eases. Financiers are meeting the requirement of working capital. Meanwhile, it is being speculated that the waiver of road tax exemption from October will also be a matter of concern for truck owners.

Demand is sluggish. Only 30% of transport vehicles are being used. "Most of the transporters are not able to fulfill their responsibilities," said an official of the Bombay Goods Transport Association. Transporters have been able to survive so far because of the moratorium.


Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more